Diageo chief executive Paul Walsh's decision to focus on quality alcohol brands while disposing of non-core businesses like Burger King has earned the company the respect of many City followers, who admire its size and ambition. The company, which is particularly proud of its eight top brands, made almost £2bn last year and profits are expected to increase steadily in 2007 and 2008. Shares are currently trading at 985.5p, putting them on a price-earnings ratio of about 15. But Mail on Sunday investments editor Joanne Hart says there is still mileage in the stock, particularly given Diageo's presence in countries like Brazil, Russia, India and China. The Mail on Sunday (Financial Mail) 10/12/06 page 6