Endeavour Group posts 17.1% fall in interim profit
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The news: Retail and hospitality firm Endeavour Group recorded a 17.1% decline year-on-year in half-year statutory net profit after tax to $247 million, driven by one-off cessation costs from the planned closure of the Melbourne Liquor Distribution Centre.
The numbers: The group posted a 5.4% increase in underlying earnings before interest and tax to $563 million, while group sales rose 0.9% to $6.7 billion.
Retail underlying earnings saw an 11.6% year-on-year increase to $327 million, while in the hotel division, earnings rose 5% to $275 million.
The company declared an interim dividend of 10.8 cents per share, representing a 13.6% increase from a year earlier.
The context: Endeavour said the decline in half-year net profit was driven by costs associated with the Melbourne Liquor Centre closure, which resulted in a $40 million loss during the period, as well as a $9 million advisory fee linked to hotel property impairments.
The company expects its capital expenditure to be between $460 million and $500 million in FY26.
The source: ASX
