Investor Alert

New York Markets After Hours

Feb. 26, 2020, 2:34 a.m. EST

Diageo sees coronavirus sales hit for 2020

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

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