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Equity (Tables)
 12 Months Ended
Jun. 30, 2025
Disclosure of reserves within equity [abstract]  
Schedule of allotted and fully paid share capital (a) Allotted and fully paid share capital – ordinary shares
of 28101⁄108 pence each
Number
of shares
million
Nominal
value
$ million
At 30 June 2023
2,460
898
Shares cancelled
(28)
(11)
At 30 June 2024
2,432
887
Shares cancelled
—
—
At 30 June 2025
2,432
887
Schedule of movement in hedging and exchange reserve (b) Hedging and exchange reserve
Hedging
reserve
$ million
Exchange
reserve
$ million
Total
$ million
At 30 June 2022
32
(3,270)
(3,238)
Retranslation impact of opening
balances(1)
—
(173)
(173)
Other comprehensive income/(loss)
261
(256)
5
At 30 June 2023
293
(3,699)
(3,406)
Other comprehensive loss
(154)
(613)
(767)
At 30 June 2024
139
(4,312)
(4,173)
Other comprehensive income
79
466
545
At 30 June 2025
218
(3,846)
(3,628)
(1)Includes foreign translation differences arising on the retranslation of reserves due to the
change in the group’s presentation currency.
Schedule of movements in own shares (c) Own shares
Movements in own shares
Number
of shares
million
Purchase
considerati
on
$ million
At 30 June 2022
219
2,223
Retranslation impact of opening balances(1)
—
93
Share trust arrangements
(1)
(15)
Shares used to satisfy options
(2)
(15)
Shares purchased – share buyback programme
38
1,673
Shares cancelled
(38)
(1,673)
At 30 June 2023
216
2,286
Share trust arrangements
(2)
(19)
Shares used to satisfy options
(2)
(17)
Shares purchased – share buyback programme
28
987
Shares cancelled
(28)
(987)
At 30 June 2024
212
2,250
Share trust arrangements
(1)
(14)
Shares used to satisfy options
(1)
(8)
At 30 June 2025
210
2,228
(1) Includes foreign translation differences arising on the retranslation of reserves due to the
change in the group’s presentation currency.
Schedule of dividends (d) Dividends
2025
$ million
2024
$ million
2023
$ million
Amounts recognised as distributions
to equity shareholders in the year
Final dividend for the year ended 30
June 2024 62.98 cents per share
(2023 – 59.98 cents; 2022 – 52.71
cents)
1,399
1,349
1,200
Interim dividend for the year ended
30 June 2025 40.50 cents per share
(2024 – 40.50 cents; 2023 – 38.57
cents)
899
894
871
2,298
2,243
2,071
Schedule of amounts attributable to non controlling interests Summarised financial information for USL and other subsidiaries, after fair value adjustments on acquisition, and the amounts attributable to non-
controlling interests are as follows:
2025
2024
2023
USL
$ million
Other
$ million
Total
$ million
Total
$ million
Total
$ million
Income statement
Sales
3,201
3,238
6,439
6,224
6,409
Net sales
1,405
2,463
3,868
3,718
3,767
Profit for the year(1)
181
347
528
777
80
Other comprehensive loss(2)
(50)
(241)
(291)
(16)
(172)
Total comprehensive income/(loss)
131
106
237
761
(92)
Attributable to non-controlling interests
56
127
183
277
(66)
Balance sheet
Non-current assets(3)
1,300
4,229
5,529
5,741
5,354
Current assets
1,304
1,437
2,741
2,545
2,316
Non-current liabilities
(199)
(1,450)
(1,649)
(1,774)
(1,656)
Current liabilities
(565)
(1,038)
(1,603)
(1,738)
(1,788)
Net assets
1,840
3,178
5,018
4,774
4,226
Attributable to non-controlling interests
791
1,297
2,088
2,038
1,853
Cash flow
Net cash inflow from operating activities
278
330
608
693
604
Net cash outflow from investing activities
(185)
(120)
(305)
(211)
(236)
Net cash outflow from financing activities
(77)
(317)
(394)
(456)
(170)
Net increase/(decrease) in cash and cash equivalents
16
(107)
(91)
26
198
Exchange differences
(4)
14
10
(33)
(111)
Dividends payable to non-controlling interests
(32)
(108)
(140)
(121)
(117)
(1) Profit for the year includes exceptional operating items attributable to non-controlling interests.
(2) Other comprehensive loss is principally in respect of exchange on translating the subsidiaries to US dollar.
(3) Non-current assets include the global distribution rights for Ketel One vodka products worldwide. The carrying value of the distribution right at 30 June 2025 was $1,800 million (2024 – $1,800
million; 2023 – $1,800 million).
(i) On 30 September 2024, Diageo completed the sale of its 58.02% shareholding in Guinness Nigeria PLC to N-Seven Nigeria Ltd., part of the Tolaram group.
(ii) On 28 January 2025, Diageo announced the sale of its 80.4% shareholding in Guinness Ghana Breweries PLC to Castel Group.
(iii) On 02 April 2025, Diageo announced the sale of its 54.4% shareholding in Seychelles Breweries Limited to Phoenix Beverages.
Schedule of employee share compensation The annual fair value charge in respect of the equity settled plans for
the three years ended 30 June 2025 is as follows:
2025
$ million
2024
$ million
2023
$ million
Executive share award plans
48
34
49
Executive share option plans
9
7
4
Savings plans
2
2
5
59
43
58
Schedule of fair value of each share award used the Monte Carlo pricing model and weighted average assumptions For the three years ended 30 June 2025, the calculation of the fair
value of executive share awards used the Monte Carlo and Black
Scholes pricing model and the following assumptions:
2025
2024
2023
Risk free interest rate
3.9%
4.7%
3.1%
Expected life of the awards
33 months
33 months
35 months
Dividend yield
3.4%
2.6%
2.0%
Weighted average share price
2426 p
3118 p
3758 p
Weighted average fair value of
awards granted in the year(1)
1814 c
1757 c
2318 c
Number of awards granted in
the year
3.4 million
2.1 million
1.7 million
Fair value of all awards granted
in the year
$61 million
$36 million
$40 million
(1) Based on transaction rate at grant date of the awards.
Schedule of transactions on executive share award plans Transactions on the executive share award plans for the three years
ended 30 June 2025 were as follows:
2025
million
2024
million
2023
million
Number of awards outstanding at 1 July
4.8
4.9
5.2
Granted
3.4
2.1
1.7
Awarded
(1.3)
(1.8)
(1.1)
Forfeited
(0.9)
(0.4)
(0.9)
Number of awards outstanding at 30 June
6.0
4.8
4.9