Diageo dragged down by coronavirus update

By
0 mins. to read
Diageo dragged down by coronavirus update
Frantisekf / Shutterstock.com
Master Investor Magazine

Master Investor Magazine 59Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

FTSE 100 drinks giant Diageo (LON:DGE) slipped 2.23% to 2,894p (as of 14:15 GMT) after it provided an update outlining the impact of coronavirus on trading. Chinese on-trade sales have been heavily disrupted, while sales in other Asian countries have also been hurt to a lesser extent.

Management estimate that the total negative impact this year on organic net sales will be in the region of £225-325 million and organic operating profits will be reduced by £140-200 million.

 

Take part in our poll

Of the stocks covered by Master Investor in the weekly Small Cap Round Up, which ones do you hold?


Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.