Diageo, the maker of Johnnie Walker whisky, Guinness stout, and Smirnoff vodka, announced a restructuring plan targeting $1 billion in savings over the coming years after reporting a decline in sales and profit. The savings will begin in the current fiscal year and come from operational and supply-chain improvements.

Costs for the program total $1.2 billion, with roughly $752 million already booked in the fiscal year through June. Chief Executive Dave Lewis said the savings will fund the turnaround without reducing adjusted operating profit. For fiscal 2027, the group expects organic operating-profit growth in the low-to-mid-single digits, including part of the planned cost reductions.

Meanwhile, divestments of Kenya-based East African Breweries and the Indian cricket franchise Royal Challengers Bengaluru are expected to improve the company's debt-to-earnings ratio.