Full Year 2023 Diageo PLC Earnings Call Transcript
Good morning, and thank you for joining our preliminary results call for fiscal '23. I'm Debra Crew, CEO of Diageo. Fiscal '23 is the first time I'm presenting results as the CEO of Diageo. I was appointed in early June, taking over from our much loved and respected former CEO, Sir Ivan Menezes.
I hope you have had a chance to read our fiscal '23 results press release and watch our presentation on diageo.com. I'm pleased to share that we delivered a strong performance in fiscal '23, organic net sales growth of 6.5% and organic operating profit growth of 7%, both are within our medium-term guidance.
We expanded organic operating margin by 15 basis points in a challenging cost environment while continuing to invest in the business. Our culture of everyday efficiency and strong pipeline of productivity initiatives drove GBP 450 million of savings in fiscal '23 and is fueling sustained investment in brand building and future growth.
Our business is now 35% bigger on a constant net sales value basis compared to fiscal '19.
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