Profit warning in November shook investor confidence
Diageo putting in place steps to avoid repeat of mistakes
Investors waiting for new CEO to prove herself
Questions remain over ability to drive growth

LONDON, Feb 7 Reuters Diageo39;s attempt to reassure investors about its strategy in Latin America has boosted confidence among some that the world39;s top spirits maker can revive its performance after a profit warning, but doubts remain for others.

Investors watched closely as the maker of Tanqueray gin and Johnnie Walker whisky reported its firsthalf results last week after a November warning shook confidence in the company and its management led by new Chief Executive Debra Crew.

Diageo39;s warning was driven by a sharp decline in sales in Latin America as consumers switched to cheaper booze, leaving the company with a build up of unsold stock that it admitted only became clear at a relatively late stage.

Since the latest earnings were published, three investors told Reuters the measures Diageo is putting in place to ensure it isn39;t caught out in the same way again were welcome.

The sky is a little clearer and there39;s a little bit more sunshine, said Johannes Hesche, a portfolio manager at Diageo investor Acatis, adding the global economic environment was also more likely to improve than get worse.

Diageo said it was taking steps to improve data collection from its trade customers in the region, such as testing digital tracking of its shipments.

It is…