Diageo warns profits could drop $258M due to coronavirus

Diageo warns profits could drop $258M due to coronavirus

Diageo warned that the epidemic could slash $258 million from its profits this fiscal year as bars and restaurants remain shuttered. The liquor company behind Guinness, Johnnie Walker, Smirnoff and Captain Morgan said the outbreak could also hit its 2020 net sales to the tune of $420 million. Diageo said it expects liquor consumption in China to return to normal by the end of the fiscal year.

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pennydreadful
Unkars Thug
Unkars Thug 2 months

Alcohol as a whole might end up worth more as a disinfectant, if current trends continue.

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