Diageo full-year profit up 2 pct

(AP) Diageo PLC, the world's largest distiller, has reported a 2 percent increase in full-year profits led by strong growth in sales of spirits.

Diageo, whose brands include Johnnie Walker, Smirnoff and Guinness, reported Thursday that its net profit for the year ending June 30 was 1.94 billion pounds ($3.1 billion), up from 1.9 billion pounds a year earlier. Operating profit of >3.16 billion pounds was slightly ahead of analysts' consensus.

Sales rose 10 percent to 14.6 billion pounds.

Sales of spirits rose 12 percent and the company says that accounted for 80 percent of its growth.

Latin American and the Caribbean produced the company's strongest growth with volume rising by 10 percent.