Global beer manufacturer Anheuser-Busch InBev said it lost five percent on expected profits in the final quarter of 2019, and has issued a profit warning for the first quarter of 2020. 

The COVID-19 epidemic has seriously affected the global drinks industry, as Belgium-registered AB InBev became the second firm in as many days to warn of weaker business stemming from the viral outbreak. 

Yesterday Diageo, which owns popular brands such as Guinness and Johnnie Walker whisky, warned shareholders it could be facing a profit downgrade of $200 million due to slowing demand in Asia.

AB InBev, which owns beer brands like Budweiser, Corona and Stella Artois, said on Thursday it had performed five percent worse than expected, and had sold six percent less beer in China and Asian markets than expected, in the second half of 2019. 

The world's biggest brewer has lowered profit expectations for the first three months of 2020 by 10 percent due to the potential impact of COVID-19 on China's night time economy. 

The Chinese market is crucial for AB InBev, as it sells more of its headline brand Budweiser there than in the U.S. and approximately $285 million was wiped off profits in early 2020 due to a fall in sales.

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