Summary Box: Tax changes send Diageo profit down (AP)

TAX NIP: A one-time tax hit sent profits at drinks company Diageo PLC's down 20 percent in the last six months of 2011, despite rising income following a strong performance in emerging markets.

FALLING PROFIT: Diageo, whose brands include Johnnie Walker scotch and Guinness stout, said Thursday that its net profit for the period ? the first half of its financial year ? was 953 million pounds ($1.5 billion), down from 1.19 billion pounds a year earlier.

GROWTH AREA: CEO Paul Walsh said emerging markets in Africa, Latin America and Europe have grown to account for nearly 40 percent of its business.

Source: http://us.rd.yahoo.com/dailynews/rss/britain/*http%3A//news.yahoo.com/s/ap/20120209/ap_on_bi_ge/eu_britain_earns_diageo_summary_box

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