Endeavour posts $529m profit, misses expectations

The news: Dan Murphys, BWS and pubs owner Endeavour has recorded a $529 million profit, up 6.9% for the year but short of expectations.

The numbers: Endeavour lifted its revenue 2.5% to $11.9 billion and delivered earnings per share of 29.5 cents, up 6.9% on 2022. The group will pay a fully franked final dividend of 7.5 cents per share on August 25, down from 7.7 cents last year. Endeavour's share price was trading 0.5% lower at $5.97 at 11:30am AEST.

The context: The financial performance of Endeavour's pubs and hotels picked up, while bottle shop sales were down for the year, as business activities normalised and COVID-19 lockdowns faded. Poker machine legislation will be another issue to watch, with several states introducing measures to limit gambling harm.