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Diageo, the maker of Johnnie Walker whisky, has warned of a decline in organic operating profit growth in the first half of its current financial year due to weaker performance in Latin America and the Caribbean. The company expects a sales decline of over 20% in these regions, leading to a fall in organic profit. This has resulted in a significant drop in the company's stock value. Despite the challenges, Diageo aims to continue growing its advertising and promotion spending more than sales in other regions. The company attributes the slowdown to macro pressures, lower category consumption, and downtrading, which has slowed de-stocking. However, it is still gaining market share in most markets in its categories.
