Diageo sees coronavirus hit to 2020 profit of up to $260 million

  • >> Reuters
    Published: 2020-02-26 13:50:24 BdST

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A bartender takes a bottle of Johnnie Walker whisky at Barmaglot bar in Almaty, Kazakhstan Jun 22, 2017. REUTERS

Drinks group Diageo warned on Wednesday of an estimated hit to fiscal 2020 profit from coronavirus of up to 200 million pounds ($260 million).

The London-based company, whose brands include Johnnie Walker Scotch whisky, Smirnoff vodka and Guinness beer, estimated the negative impact of the virus on the group's organic net sales and organic operating profit, to be in a range of 225-325 million pounds and 140-200 million pounds respectively.
 
Despite the warning, Diageo said it remained confident in the growth opportunities in its Greater China and Asia Pacific business.