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Endeavour Group Ltd (ASX:EDV) has posted a profit drop of 15% in the half year of fiscal 2025, while also telling investors that chairman Ari Mervis would be stepping into an executive chairman role on March 17.
The company will be seeking a new CEO and managing director after Steve Donohue said he would be stepping down.
The company – whose network includes Dan Murphy’s, BWS and ALH Hotels – said its NPAT (net profit after tax) was $298 million in the first six months to December 2024, registering a fall of 15.1%.
Operating earnings before interest and taxes were down 6.6% at $634M. This excluded the impact of the company’s One Endeavour Technology program. And Endeavour’s dividend per share had fallen to 12.5cps, from 14.3c in the first half of fiscal year 2024.
The retail sales figure for the period was $5.5 billion – a fall of 1.5% – and operating earnings (EBIT) in retail were also in the red, 11.6% down at $397M. Hotel sales were 3.3% higher at $1.1 billion, and operating EBIT for hotels was 3.4% higher, at $274M.
The $200M ‘One Endeavour’ program was kicked off in 2023 and is set to last three years, seeking to harness technology to target efficiencies across the company.
Endeavour has been trading at $4.49.
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