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Diageo has cut its 2024 guidance as the London-based spirits maker cites weaker demand in Latin America. The Johnnie Walker and Smirnoff owner had expected to see a gradual improvement in organic net sales growth but now say operating profit growth for the first half of the year will decline compared to the first half of 2023. "Macroeconomic pressures in the region are resulting in lower consumption and consumer downtrading," Diageo said.