Annual Report 2010
2010 was characterised by variability. Diageo’s brand positions, global scale and agility in response to changing conditions delivered a good performance in the year.
About Diageo Diageo plc is the world’s leading premium drinks business with an outstanding collection of beverage alcohol brands across spirits, wines and beer categories. These brands include Johnnie Walker, Guinness, Smirnoff, J&B, Baileys, Tanqueray, Captain Morgan, Crown Royal, Gordon’s , Beaulieu Vineyard and Sterling Vineyards wines. The company also has distribution rights for Jose Cuervo. Diageo is a global company, with its products sold in more than 180 markets around the world. The management team expects to continue the strategy of investing behind Diageo’s global brands, launching innovative new products, and seeking to expand selectively through partnerships or acquisitions that add long term value for shareholders. The company is listed on both the New York Stock Exchange (DEO) and the London Stock Exchange (DGE). For more information about Diageo, its people and its brands, visit www. diageo.com. For Diageo’s global resource that promotes responsible drinking through the sharing of best practice tools, information and initiatives, visit www.DRINKiQ.com.
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1 Online Review 2 Annual Report 3 Corporate Citizenship Report
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This is the Annual Report of Diageo plc for the year ended 30 June 2010 and it is dated 25 August 2010. It includes information that is required by the US Securities and Exchange Commission (SEC) for Diageo’s US filing of its Annual Report on Form 20-F. This information may be updated or supplemented at the time of the filing of that document with the SEC or later amended if necessary, although Diageo does not undertake to update any such information. The Annual Report is made available to all shareholders on Diageo’s website (www.diageo.com). The content of the company’s website should not be considered to form a part of or be incorporated into this report. This report includes names of Diageo’s products, which constitute trademarks or trade names which Diageo owns or which others own and license to Diageo for use. In this report, the term ‘company’ refers to Diageo plc and terms ‘group’ and ‘Diageo’ refer to the company and its consolidated subsidiaries, except as the context otherwise requires. A glossary of terms used in this report is included at the end of the report.
Diageo’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as endorsed and adopted for use in the European Union (EU) and IFRS as issued by the International Accounting Standards Board (IASB). References to IFRS hereafter should be construed as references to both IFRS as adopted by the EU and IFRS as issued by the IASB. Unless otherwise indicated, all financial information contained in this document has been prepared in accordance with IFRS. The brand ranking information presented in this report, when comparing volume information with competitors, has been sourced from data published during 2010 by Impact Databank. Market data information and competitive set classifications are taken from independent industry sources in the markets in which Diageo operates. © Diageo plc 2010
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Performance summary Performance overview Outstanding brands Regional overview Chairman’s statement Chief executive’s review Historical information Business description Strategy Premium drinks Risk factors Cautionary statement concerning forward-looking statements
Management focus on growth drivers and costs has delivered a good performance in variable market conditions
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