The Margin has been reading an assessment of Irish drinking habits which may cast an interesting light on the habits of, eh, how shall we put it, older people in the State.

Diageo's chief executive Paul Walsh has been explaining the performance of the Guinness brand, which has been doing poorly "in its home market of Ireland". Volume fell 3 per cent in the latest half. "Guinness sales are suffering in Ireland, he said, because younger people drink less than their parents did.

Then he revealed a most startling statistic: "When one of our consumers there dies," he said, "we lose a 20 pint a week person and if we recruit a new consumer, it's a four pint-a-week person."

According to the Wall Street Journal, which interviewed Mr Walsh, the company has been repositioning the brand, including sponsorship of "new wave" music festivals.

The Margin has not heard the term new wave for nigh on 20 years. . . perhaps the drinkers who remember those days are the 20 pint takers of today?