By Seb Joseph

Diageo has hailed cost cuts to its marketing for contributing to better brand-building initiatives over the last six months as it backs a sustainable approach to cost-savings to offset declining sales.

Revenue at the alcohol maker dipped 1 per cent to £5.9bn in the six months to December, plagued by struggles in emerging markets including a crackdown on extravagant spending in China and an economic slowdown in Brazil. It was compounded by slowdowns in mature markets such as Europe where the business sales slipped 4 per cent in the period.

The losses come despite increased marketing spend across all regions except Asia Read full story ›

Source: The Drum