CANBERA (dpa-AFX) - Endeavour Group (EDVGF, EDV.AX), an Australian retail drinks network & portfolio of licensed hotels, reported Wednesday lower net profit in its first half amid slightly higher sales. Further, the company reported higher segmental sales in the first seven weeks of the second half.
In Australia, the shares were losing around 4.3 percent, to trade at A$3.8100.
The company's net profit for the period decreased 17.1 percent to A$247 million from last year's A$298 million.
Underlying net profit declined 6.7 percent to A$278 million from A$298 million a year ago.
Underlying profit before income tax decreased 6.6 percent year-over-year to A$408 million, and the group's underlying EBIT (Earnings Before Interest and Taxes) dropped 5.4 percent to A$563 million. The retail segment's underlying EBIT also decreased 11.6 percent to A$327 million.
However, the company's overall group sales edged up 0.9 percent to A$6.68 billion from A$6.62 billion last year. Retail sales grew by 0.2 percent to A$5.51 billion.
Further, the Board has determined to pay a fully franked interim dividend of 10.8 cents per share. The record date is March 13 and the dividend is expected to be paid to shareholders on April 15.
Regarding current trading, the company noted that sales growth for the first seven weeks of the second half of fiscal year 2026 was 1.3 percent for the retail segment and 4.5 percent for the hotels segment.
The company added that its retail business is continuing to gain share in a competitive liquor market, although sales growth in both retail and hotels moderated in February compared to January. The prior year's retail sales during the first seven weeks were impacted by effects of supply chain disruption.
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