On August 9, Diageo's latest fiscal year 2020 earnings data showed that as of June 30, Diageo Group net sales were 11.752 billion pounds, down 8.7% year-on-year; operating profit was 2.137 billion pounds, down 47.1% year-on-year; profit attributable to shareholders of the parent company was 1.409 billion pounds, down 55.41% year-on-year.
Net sales in Asia Pacific were £2,270 million, accounting for 19.3% of total sales, down 16% year-on-year, while operating profit was £501 million, down 29% year-on-year. Net sales in Greater China declined by 7%. The announcement showed that all markets in the Asia Pacific region, except Australia, experienced a decline due to the impact of the epidemic. Meanwhile, the Greater China region saw a decline as growth in Scotch whisky, liqueurs and beer was offset by a decline in Chinese liquor.
So it was the growth of imported spirits that offset the decline in the performance of Baijiu Shuijingfang?