This European company isn’t sugarcoating its coronavirus problem

Pernod Ricard, the maker of Jameson whiskey and Absolut vodka, cut its annual profit growth outlook for 2019-2020 on Thursday, as it said China’s coronavirus epidemic was likely to have a “severe” impact on its third-quarter performance.

“In our view Pernod Ricard deserves credit for attempting to quantify the impact, which few other companies we follow have done,” said James Edwardes Jones, analyst at RBC Capital Markets. In its winter 2019 economic forecast, the European Commission said: “The longer it lasts, however, the higher the likelihood of knock-on effects on economic sentiment and global financing conditions.”

Pernod, the world’s second-biggest spirits group after the U.K.’s Diageo DGE, -0.87%, said operating profit from recurring operations would grow between 2% to 4% this year, down from the 5% to 7% it previously predicted, because of the impact of the coronavirus outbreak.

DonutShorts Best thing ever for a cough and it wouldn’t get you on a gvmt list

drink corona

But vodka prevents getting infected by viruses and bacterium 🧐🤔 I speak from experience!

I was wondering who drank that crap. The Chinese! Probably made there too with the best quality ingredients! 😂

Bullish

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

European stocks slump as China reports spate of new virus casesGood morning. * China has reported a big jump in new virus cases * Charlie Munger warns of 'wretched excess' * IEA has cut oil-demand view * DJIA futures -210 points, Europe stocks lower
Источник: MarketWatch - 🏆 3. / 97 Прочитайте больше »

European markets set for lower open; coronavirus, earnings in focusEuropean markets are set to open slightly lower on Thursday morning as China's coronavirus epidemic remains the primary focus for investors. keesdekortbnr RoyceTostrams apanalis freezerohedge Or The focus is shitty leadership in the US. Which is causing concerns in the global markets...mainly asTrump is causing a breakdown in our 3 branches of Government and no one there is to check him. What about that concern?
Источник: CNBC - 🏆 12. / 72 Прочитайте больше »