Jin Kurosawa

drinks giant Diageo has warned That its profits Will be close matches this Year , such as Bars and restaurants in China are forced to, because of the Corona Virus outbreak.

The Guinness owner said That the operating profit likely to be £140m-£200m lower than expected, due to interruptions in the Asian markets.

It combines companies such as Danone in warning about the impact of the deadly virus.

the financial markets have also fallen sharply This Week , as fears of a pandemic grow.

The Company , whose brands such as Smirnoff, Johnnie Walker , Tanqueray and Gordon's Gin - also warned on Wednesday That the sales could reduce the £225m-£325m lower than expected, depending on how long it took for the outbreak to.

the Bars and restaurants in China, "largely closed and there was a significant reduction in Parking. We have seen considerable trouble since the end of January we expect at least into March.

"After That , we expect a gradual improvement with consumption returning to normal levels at the end of fiscal Year 2020. "

events moved in several other Asian countries, particularly South Korea , Japan and Thailand, as well as a reduction in conferences and banquets, and a decline in tourism, all have an influence on people to buy its products.

He added That the Corona Virus had outbreak, was a "significant reduction" in the people over the airports, especially in Asia, hitting travel retail.

China is a very important market for Diageo. In the six months to December 31. December sales in the Greater China Region, which includes Taiwan-rose by 24%.

It was a double-digit growth in the Chinese white spirits and Scotch.

investors are clearly nervous about the implications of the coronavirus in the UK and US markets in The Last Two Days , all profits lost, you have made so far this Year - But have struggled to accurately quantify how big the problem Will be, and how different sectors Will be affected.

In The Absence of information, you have sold, the obviously, shares in airlines and holiday operators, and luxury goods companies.

Diageo market update, which says That its annual profit could hit £200m, Will give you pause to think about the wider implications.

The drinks Company , clarify what should be obvious - Bars and restaurants in the whole of China, one of the largest markets, which were closed.

Large events, other money-spinner for Diageo, terminated over Asia.

It is sobering - no pun intended - assessment of how the earnings of The Company Will be affected.

Last Year , the huge stock market gains were assumptions, a reflection of the investors That the profits remain high. This assumption is now very much in doubt.

Most of the infections are in China, the original source of the coronavirus, where, and over 2,600 have died.

More Than 1,200 cases have been confirmed in over 30 other countries and More Than 20 deaths have been. Italy reported four deaths on Monday, increasing the total to seven.

There are 53 confirmed cases in the United States, and the officials call on Congress to urgently pass billion-Dollar-Fund the response effort.

Source of news: bbc.com