Endeavour Group’s net profit slips despite higher sales

Endeavour Group’s net profit fell 3.2 per cent to $512 million, while sales increased 3.6 per cent to $12.3 billion amid improved performance of its retail and hotel segments in the last fiscal year.

Pre-tax earnings from its retail segment – that includes Dan Murphy’s and BWS – rose 4.1 per cent to $685 million as sales climbed 3.4 per cent to $10.25 billion.

Its e-commerce sales jumped 5.9 per cent to comprise 8.9 per cent of total retail sales.

The company ended the fiscal year with 1728 stores, including net new openings and renewals.

Pinnacle Drinks delivered $1.8 billion in sales, with about 400 new products driving more than 50 per cent of the growth, while the hotel segment’s EBIT went up 2.3 per cent to $438 million as sales increased 4.2 per cent to $2.06 billion.

“With our brands and venues being Australia’s go-to destinations for social occasions and events, we look forward to key upcoming first half trading events such Father’s Day, Cyber Week and the festive season, with our unrivalled value proposition, growing loyalty base and compelling consumer offer positioning us to perform well,” said Steve Donohue, Endeavour Group MD and CEO.

“We will continue to focus on tightly managing our costs as we execute our strategy scorecard commitments to deliver value for shareholders.”

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