Diageo Sees GBP225m to GBP325m Hit on Net Organic Sales for Fiscal Year 2020

Date : 02/26/2020 @ 7:53AM
Source : Dow Jones News
Stock : Diageo Plc (DEO)
Quote : 127.12  0.0 (0.00%) @ 10:13AM
Last Trade
Last $ 122.85 ▼ -4.27 (-3.36%)

Diageo Sees GBP225m to GBP325m Hit on Net Organic Sales for Fiscal Year 2020

Diageo (NYSE:DEO)
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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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