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Diageo Must Reward Workers After 'Soaring' Profits

Thursday, January 26, 2017

 

GMB Scotland has today (Thursday 26 January 2017) said that drinks giant Diageo’s ‘soaring’ interim financial results should see its workers across Scotland receive a pay award that recognises the massive contribution made to its continued success. 

The remarkable financial showing for the six months ending 31 December 2016, show operating profits up 28 per cent and net sales up 14.5 per cent at £2,065 million and £6,421 million, driven by strong organic growth and favourable currency exchange rates.

GMB’s membership across Diageo’s Scottish operations are undertaking a consultation ahead of collective bargaining for the 2017/18 pay award, having recently negotiated a new settlement for pension reforms across the company. 

Diego’s results follow hard on the heels of the Scotch Whisky Association’s (SWA) research that whisky production is worth nearly £5 billion a year to the UK economy. 

GMB Scotland Organiser Louise Gilmour said:

“These soaring results show there is momentum everywhere in Diageo’s business but the strong foundations have been built by the skills of Scottish workers producing premium and luxury whisky brands.

"Our members have negotiated responsibly with Diageo on the thorny issue of pension reform, so the least our members will be expecting is a pay award that recognises and rewards the significant contribution they have made to the company’s performance.

"Last year, Diageo’s Chief Executive Ivan Menezes enjoyed a massive 12 per cent pay increase and following the SWA’s analysis of whisky’s huge contribution to the UK economy, it’s time to give the workers at the coalface of the business their fair share.” 

ENDS 

Contact: Peter Welsh, GMB Scotland Communications, on 07976 447077 
 

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