EM consumers boost UK companies

ON UK GROWTH

Marlborough's Richard Hallett discusses how emerging markets are offering some relief to economically weak UK firms.

In emerging economies, the appetite among affluent consumers for luxury Western brands continues to grow and to provide rich opportunities for UK companies ranging from up-market fashion house Burberry to drinks manufacturers such as Diageo and SABMiller. Burberry’s share price rose 6.5% recently when it announced revenues increased by a third in the three months to 30 June, with Chinese retail sales alone up by 30%. Diageo, which has a portfolio of brands ranging from Johnnie Walker to Guinness, expects EMs in Asia Pacific, Latin America and Africa to account for half of global reven...