Endeavour Group records strong half-year earnings, names new CFO

Hotel and liquor retailer Endeavour Group has delivered strong first-half sales of $6.5 billion, 2.5 per cent higher than last year.

EBIT increased by 15.8 per cent to $461 million, which the company attributes to the hotel operations’ return to full swing after the pandemic. On a three-year comparative basis, hotel and retail sales are trading at 4.7 per cent and 4.5 per cent cumulative annual growth rates, respectively.

Steve Donohue, CEO and MD of Endeavour Group, said that with domestic travel returning, December saw customers return to more normal holiday activities and a full social calendar. Stores and hotels in regional and coastal towns also performed strongly.

He also acknowledged the company’s physical and online network and digital capabilities, allowing it to deliver “true omnichannel experiences”.

New services include gifting, click and collect, electronic shelf labels, and image-search functionality in apps.

“We continue to focus on meeting customer demand for drinks discovery: a strong new product pipeline and our extensive selection of premium and craft options have contributed to our overall earnings,” Donohue added.

“Our results this half are a credit to the hardworking and passionate team members right across our operations.”

Meanwhile, the company also named its new CFO Kate Beattie as current CFO Shane Gannon steps back from executive roles.

Beattie has held finance leadership roles within Woolworths and Endeavour Group for the past five years – from working as finance director for the retail drinks division of Woolworths to becoming interim CFO of Endeavour, leading preparations for the demerger and deputy CFO after the demerger.

She has also led the BWS retail business as interim MD.

Before joining Endeavour, Beatty spent 20 years in roles across retail, technology, banking, and professional services in international companies such as Commonwealth Bank, Macquarie, and Oracle.

“Today’s announcement is a testament to both Kate and Shane and their executive leadership in establishing Endeavour Group as a standalone company,” said Donohue.

“I would like to pay special tribute to Shane for his enormous contribution to the company, bringing his wealth of experience during such a formative period, embedding best-in-class strategy and governance and fostering an exceptional culture.”

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