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Diageo's share price dropped again as the drinks manufacturer reported continued stress in its Latin America and Caribbean (LAC) territory in its half-year update.

Diageo PLC (LSE:DGE) on Tuesday reported a drop in half-year revenue and operating profit reflecting a 23% decline in Latin America & Caribbean (LAC) sales. The owner of Guinness, Johnnie Walker and Smirnoff said sales in the half-year ended December fell 1.4% to $11.0 billion, with organic sales down 0.6%, driven by a 23% decline in LAC.

United Kingdom corporation Diageo announced its 2024 interim results before markets opened on January 30th. Diageo (DGE on the FTSE stock exchange in London) is one of the world's premier brands in the alcoholic drinks space.

The author sold their position in Diageo in 2022 but now believes the stock is undervalued and recommends buying with a significant upside. Diageo has a strong portfolio of spirits and beer brands and a global presence, with sales in over 180 countries. Despite short-term uncertainty and potential risks, Diageo's strong financial performance and potential for future growth make it an attractive investment.

Diageo PLC (LSE:DGE) on Friday led the FTSE 100 risers after investors took heart from results from LVMH and Remy Cointreau. LVMH's Wines & Spirits business delivered organic sales growth in the fourth quarter after declining in the two previous quarters.

Diageo's (DEO) first-half fiscal 2024 results are likely to reflect gains from a diversified footprint, advantaged portfolio, strong brands and favorable industry trends of premiumization.

CNBC's Jim Cramer explains why he is keeping an eye on shares of Diageo plc.

Spirits giant Diageo said that it had settled its row with rapper Sean Combs, better known as P Diddy, over the marketing of his Ciroc Vodka and DeLeon Tequila. In a statement, Diageo said Combs had withdrawn all of his allegations about Diageo and would voluntarily dismiss his lawsuits against the company with prejudice.

The liquor maker said Combs has withdrawn all of his allegations about Diageo and will voluntarily dismiss his lawsuits against the company with prejudice.

New Year has brought no cheer for Diageo with Deutsche Bank following up its ‘sell' note of November with another brutal update reiterating the message. Deutsche Bank was a seller even before the Guinness, Johnnie Walker and Smirnoff group's profit warning that month and its latest update suggests things have gotten worse since then.