Diageo Reports 17% Surge In Full-Year Profit, Raises Dividend

Diageo PLC DEO reported a 17% rise in its full-year profit. Diageo's profit for the period surged to 1.9 billion pounds ($3.1 billion), from 1.63 billion pounds, in the year-ago period. Its sales climbed 2% to 9.94 billion pounds. The tax rate dropped from 21% to 14.5%. Diageo lifted its full-year dividend by 6% to 40.4 pence. Diageo shares gained 1.74% to $75.00 in pre-market trading.