The spread of Coronavirus around the world is likely to have a significant impact on the profits of some of the world’s biggest companies.
Drinks giant Diageo is the latest global business to warn that profits are likely to fall as a direct result of the virus which has killed more than 2,600 people in China.
The manufacturer, which owns brands such as Guinness, Smirnoff, Johnnie Walker and Gordon’s gin, warned that operating profits would fall £140m-200m because of disruption across Asia.
It follows the likes of Apple and Danone to have warned about the expected financial impact.
Diageo said “there has been a substantial reduction in banqueting” as a result of quarantines and closures of public spaces.
It added: “We have seen significant disruption since the end of January which we expect to last at least into March.
“Thereafter, we expect a gradual improvement with consumption returning to normal levels towards the end of fiscal 2020.”
With the number of cases rising in other countries, like Japan, Thailand and South Korea, further closures and quarantines are expected to take place.