Diageo's profits dip after sell-off
12 September 2003 by Mark Lewis
Drinks giant Diageo reported a massive drop in pre-tax profits in its full-year results, plummeting from £2.34b last year to £654m in 2003.
The loss was the result of Diageo's sale of fast-food chain Burger King and food company Pillsbury, which also affected turnover - dipping 16% from £11.3b to £9.4b.
However, the company's drinks business, which includes Smirnoff vodka and Johnnie Walker whisky, reported a 3% increase in turnover to £8.96b.
