LONDON, July 30 Reuters Diageo warned challenges could persist into next year after missing fullyear profit expectations on Tuesday, sending shares in the world39;s top spirits maker down more than 9 to a fouryear low.

The maker of Johnnie Walker whisky and Tanqueray gin has struggled to restore investor confidence after a buildup of unsold inventory in Mexico and Brazil caught the company by surprise in November, and prompted a profit warning.

Sales in the region fell 21.1 over the year to June 30 a slightly deeper decline than Diageo had anticipated dragging its group sales and profit just below analyst expectations, down 0.6 and 4.8 respectively.

Chief Executive Debra Crew said Diageo had taken steps to resolve problems in the region and beyond, which she was confident would ultimately restore growth.

However, she warned that factors that had hurt Diageo39;s performance, including low consumer confidence, could persist into next year. It was difficult to say when the company could return to its mediumterm goal of annual sales growth of between 5 and 7.

It39;s really hard to call, she said.

RBC Capital analyst James Edwardes Jones said this was not reassuring given warnings from other consumer companies that U.S. consumer confidence is under pressure.

Campari39;s shares also fell over 7 on Tuesday as the Italian spirits group warned it faced headwinds this year.

TOO MANY NEGATIVES

It seems unlikely that Diageo will meet its sales target within the next two…