British spirits company Diageo’s quarterly revenue increased

The British-based company, which also owns the Johnnie Walker whiskey and Guinness beer brands, said on its website on Monday that its revenue rose 2.9 percent to $4.376 billion in the fiscal third quarter ended March from $4.253 billion a year earlier.

Organic revenue, which adjusts for foreign exchange and acquisitions, grew 5.9 percent.

Regionally, Diageo’s improved performance in the fiscal third quarter was driven by a 28.5 percent increase in organic net revenue in Latin America and the Caribbean to $378 million. Africa grew by 10.1 percent to $369 million, North America by 6.2 percent to $1.90 billion, Asia-Pacific by 1.6 percent to $803 million, while organic net sales in Europe decreased by 0.4 percent year-on-year.