http://www.diageo.com/en-row/Investors/Despite the credit crunch, drinks giant, Diageo reports another year of strong organic growth with net sales up 7% and operating profit up 9%. Sales rose to £8.09bn up from £7.48bn last year while sales volumes increased by about 3%.

Much of the growth by the UK company was driven by rising sales in international markets, in particular by scotch in Latin America and beer in Africa where net sales grew 16%, and North America, where growth in the priority brands drove a 5% increase in net sales.

"We have continued to invest behind great campaigns and this year has seen our global priority brands again extend their leadership positions," said Diageo's chief executive, Paul Walsh.

"Price rises and mix improvement covered increased input costs and gross margin has improved."

Smirnoff grew across all markets posting 8% volume and 10% net sales growth, gaining share  in key markets such as India and Australia. Johnnie Walker grew net sales by 12% and now has annual net sales of over £1 billion. Indeed Diageo maintained and extended its leading market position in key scotch markets such as China and Korea. The return to growth of JεB in Europe together with its strong performance in International delivered 9% net sales growth. 
 
Guinness grew net sales 6% with over 50% of that growth coming from Africa, where the brand sales rose by 13%. Net sales of Diageo's other beer brands in Africa grew 25%. 

During the year Diageo added Ketel One vodka, Zacapa rum and Rosenblum Cellars wine to its brand range. "These are already successful brands and we intend to build on that success," said Walsh.