I put some money on these and it went up few months ago. Pulled the money out and put it elsewhere. Is it worth putting more money on them now?

Just gone long @1898p

Closed half +25p

Berenberg Buy 0.00 1,921.00 2,250.00 2,250.00 Retains

Exane BNP Paribas Outperform 1,946.00 1,921.00 2,033.00 - Upgrades

Just closed the rest for +70p

Bought in again this morning.

Barclays Capital Overweight 0.00 2,250.00 2,250.00 Reiterates

Interim Management Statement

Diageo reports 3% organic net sales growth for the three months ended 30 September 2013

In the three months ended 30 September 2013 Diageo delivered 3.1% organic net sales growth with volume up 0.6%. Reported net sales were flat for the quarter mainly reflecting the termination of the distribution agreement for Jose Cuervo.

By region, organic net sales growth for the three month period was:
· North America 5.1%
· Western Europe (1.1)%
· Africa, Eastern Europe and Turkey 1.3%
· Latin America and Caribbean 10.9%
· Asia Pacific 0.6%

Credit Suisse Outperform 1,943.50 1,938.00 2,350.00 2,350.00 Retains

Investec Sell 1,943.50 1,938.00 1,865.00 1,865.00 Reiterates

Numis Add 1,943.50 1,938.00 2,200.00 2,200.00 Reiterates

Barclays Capital Overweight 1,978.75 1,954.00 2,250.00 2,200.00 Reiterates

Interim Results

The strength of a diverse portfolio in a tougher environment


· Net sales grew 1.8% in the first half, following growth of 2.2% in Q1*

- North America up 4.6%

- Western Europe down 1.0%, continuing the improving trend seen in Q1

- Emerging markets up 1.3%, impacted by weakness in baijiu in China and in Nigeria

· Continued strong price/mix in both developed and emerging markets at 4ppts

· Marketing investment up 2.7%, ahead of net sales growth, to 15.6% of net sales

· Super and ultra premium brands grew strongly, with reserve brands up 18.5%

· Beer was the only category to decline, down 2.6%, with weakness in Nigeria and Ireland

· Operating profit grew 2.9% with 0.4ppts of operating margin improvement

· Free cash flow was £326 million

· eps pre-exceptional items 62.6 pence per share, up 4%

· Interim dividend increased 9%

· Detailed plans to be developed to de-layer the organisation and deliver further operating efficiencies

· Savings of £200 million a year by year ending 30 June 2017 will fund future change programmes, investment in growth and improved margin

· Restructuring costs, expected to be taken as an exceptional charge, will be between £200 million and £250 million

*Q1 organic growth restated to $1 = VEF19 (Venezuelan Bolivars). See explanatory note 2 on organic movements.

Small long @1816.

Canaccord Genuity Hold 1,833.00 1,900.00 1,835.00 Reiterates

Numis Add 1,833.00 2,200.00 2,200.00 Reiterates

Liberum Capital Hold 1,833.00 - - Reiterates

Interim Management Statement

Is anyone else having trouble trading this stock this morning? Tried
to sell on both my accounts and I can't get a quote? Unusual.

I've just tried a dummy sell and got quoted.

Thanks skinny. I wonder what the problem my end was?
They have finally come back but 6p
lower than original quote. Shall hang on a bit longer.

Shares in Diageo and SABMiller were also on the up today after it was rumoured that the companies could combine, creating a drinks group worth over £100bn at current market prices. It is thought that Peroni and Grolsch maker SABMiller, the larger of two with a market capitalisation of around £54bn, could be eyeing a possible merger with Smirnoff and Baileys manufacturer Diageo in an attempt to ward off an approach from drinks giant AB Inbev, which has been rumoured as a potential bidder in recent weeks

Preliminary results

Created a stronger business in a tougher environment


· Net sales, up 0.4%, reflecting mixed performance; growth in North America, stability in Western Europe and weakness in emerging market economies

· Fourth quarter net sales up 0.8%

· Positive consumer trends in higher priced categories, Diageo's reserve brands net sales were up 14% and targeted price increases drove 3ppt of positive price/mix

· Operating margin improved 0.8ppt

· Procurement driven savings, worth 4% of total marketing spend, more than offset the cost of increased activity, contributing 0.2ppt of the total margin improvement

· Eps before exceptionals was down 7.6p to 95.5 pence per share as foreign exchange movements reduced eps by 10 pence per share

· Free cash flow was £1,235 million

· Recommended final dividend of 32.0 pence per share, up 9%

IMS for the three months ended 30 September 2014