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.

 

On 7th July, we will be running a Q&A webinar with the one and only Evil Knievil (Aka Simon Cawkwell). Please share a question for Evil below and we’ll try to answer as many as possible in the live webinar. Sign up for the webinar here.

Are you going to take part in Evil's webinar?


Comments (0)

Leave a Reply

Your email address will not be published.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