Diageo warns coronavirus could dent 2020 profit by US$260m

A woman wearing a mask to prevent the coronavirus uses her mobile phone at a shopping district in Seoul, South Korea, February 24, 2020. REUTERS/Kim Hong-Ji

LONDON: Diageo, the world's biggest spirits company, said on Wednesday the spread of coronavirus in greater China and the Asia Pacific region could knock up to $260 million off its profit in 2020.

The company said that in China, bars and restaurants have largely been closed and there has been a substantial reduction in banqueting. Trading has been significantly disrupted since the end of January and the group expects this to last at least into March.