Full Year 2020 Diageo PLC Earnings Call - Q&A Session Transcript
Good morning, and welcome to Diageo's 2020 Preliminary Results Investor Q&A Call. Your call today will be hosted by Diageo's CEO, Ivan Menezes; and CFO, Kathy Mikells. (Operator Instructions) We're now ready to start the call.
Mr. Menezes, please go ahead.
Thank you. Good morning, everyone, and welcome to our preliminary results call. I hope you and your families have been staying well through this time.
Fiscal '20 was a year of 2 distinct halves. In the first half, we delivered good, consistent performance, with broad-based organic growth across regions, categories, and we had margin expansion. Our second half performance, however, was significantly impacted by the global outbreak of COVID-19, with the peak of the impact occurring in Q4. We adapted quickly and acted decisively to protect our people and our business. We supported our customers, trade partners and communities. We stayed connected to our consumers and rapidly responded to the changing needs. We reduced expenditure,
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