Diageo earnings weakened by falling sales in China
Guinness exports
Diageo, the world's largest spirits maker by sales, posted weaker-than-expected earnings on Thursday, hurt by a slowdown in China and volatility in other emerging markets.
Over the past year the maker of Guinness, as well as Johnnie Walker Scotch whisky and Smirnoff vodka, has grappled with a host of issues in emerging markets - including currency devaluations, a tax increase on beer in Kenya and a steep fall in sales of China's baiju spirit due to government-enforced austerity measures.
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