It’s traditionally seen as one of those safety-net shares investors can dash to in times of economic strife, but that’s not how things have played out for Diageo over the past 12 months.
Its global presence, diversity of its brands and historical resilience of its revenue streams have failed to prevent the drinks group from being snared by some of the setbacks of coronavirus.
While many of us have turned more frequently to the drinks cabinet at home during lockdown, the closure of the travel and hospitality sectors has had an obvious negative impact on Diageo’s sales.
Although there are reasons to be optimistic about some of the group’s brands and markets, particularly in North America, the shares remain below their level of a year
