The owner of the beer brand Corona has reportedly suffered a loss in revenue of NZ$455 million this year thanks to the spread of the COVID-19 coronavirus.
Anheuser-Busch InBev SA is forecasting a 10 percent “decline” in first-quarter profits, reports CNBC.
Perhaps due to its apparent association with the similarly-named coronavirus, sales have steadily declined in China, and plummeted during Chinese New Year.
Sales of other brands it owns, including Stella Artois and Budweiser, have also dropped as nightlife grinds to a halt in China.
CEO Carlos Brito said they are preparing for a “surge” when things return to normal.
“As we look to the future, we are determined to lead growth through consumer-centricity, operational excellence and innovation.”
The World Health Organization (WHO) said China has reported a total of 78,630 cases to WHO, including 2747 deaths.
Outside of China there are 3474 cases in 44 countries & 54 deaths, reported WHO.