Diageo Sees GBP225m to GBP325m Hit on Net Organic Sales for Fiscal Year 2020
February 26 2020 - 2:53AM
Dow Jones News
By Ian Walker
Diageo PLC said Wednesday that it expects the coronavirus
epidemic to hit fiscal 2020 organic net sales by 225 million pounds
to GBP325 million ($291.8 million to $421.5 million), but given the
evolving situation this range could change further.
The world's largest liquor maker--which owns Johnnie Walker
whisky and Tanqueray gin--said the covid-19 outbreak could also
lead to a GBP140 million to GBP200 million hit on organic operating
profit for the year ending June 30.
It said the board remains confident in growth opportunities in
its Greater China and Asia Pacific business and will continue to
invest in its brands.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
February 26, 2020 02:38 ET (07:38 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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