The continued strength of its Scotch whisky brands is powering the growth of Diageo, the world's biggest drinks group said yesterday as it maintained its profit growth target at 8%.

Sales rose in Russia, eastern Europe and Asia-Pacific, but a rise in marketing spend to arrest falling sales in the rest of Europe along with invest- ment in emerging markets led by China wiped out any hope the London-based drinks giant might increase its profits outlook for the second time in under five months.

Chief executive Paul Walsh said the group's strong trading performance meant Diageo would meet guidance for 8% organic operating profit growth for the financial year, which runs to the end of this month.

He added: "Strong growth of the global spirits brands, and in particular the growth of Diageo's Scotch brands across the world, remains they key driver of top-line performance."

The company also said it delivered growth in beer, through the "continued success" of Guinness and its lager brands in Africa. The upbeat comment about Guinness contrasts with a statement earlier this year when Diageo said volumes of the product fell 7% in Europe in the second half of 2006, due to exceptionally warm weather.

Disappointment that Diageo did not raise its guidance and news of a negative currency impact for next year weighed on the shares, down 27p to 1038p in a firmer London market.

"There were some analysts who had hoped for an increase in profit guidance, but we see it as positive that Diageo is investing for the future," said one drinks industry analyst.

The group in February raised its guidance for underlying operating profit for the year to June 2007 to grow by 8% from 7% previously due to better growth in most areas outside Europe.

The drinks company reiterated that it expects exchange rates, mainly the weaker dollar, will trim £90m off operating profits in the current year, and £40m next year.

The group, which also makes Captain Morgan rum, Baileys liqueur and Jose Cuervo tequila, said it continued to outperform in North America, and saw 10%-plus sales growth in Asia-Pacific and its international region covering Latin America, Africa and the Middle East.

Diageo said sales in Europe, down 2% in the first half, were improving.

Keith Bowman, equity analyst at Hargreaves Lansdown stockbrokers, said: "Short-term expectations aside, underlying sentiment is likely to remain favourable.

"The important North American market is making progress, whilst the group's push into emerging markets continues to build momentum. Furthermore, the shares are supported via a share buy-back scheme and the generally defensive nature of the drinks industry."

Broker Cazenove left its earnings per share forecasts unchanged at 55.7p for this year and at 61.4p for the year to June 2008.