Endeavour (ASX:EDV) profit climbs despite lockdowns

Company News

by Lauren Evans

Endeavour Group (ASX:EDV) has posted its half year results for the 27 weeks ending January 2. 

The alcohol company's net profit after tax of $311 million was up 15.6 per cent from the prior year period. Revenue was down 0.3 per cent to $6.3 billion, while EBIT lifted 3.2 per cent to $556 million. Online sales were up 24.8 per cent to $603 million.

“Our first 6 months trading as an independent business has demonstrated the structural resilience of the group. We maintained group sales in line with last year, and improved our profitability significantly. This is a positive result during a period which was heavily impacted by Covid-19," said chief executive officer Steve Donohue. 

"Our Hotels business was particularly hard hit in H1 F22. There were multiple and extensive Covid-19 impacts in the first quarter, including lockdowns in the key markets of Victoria and New South Wales." 

Endeavour declared an interim dividend of 12.5 cents per share.

Shares in Endeavour Group (ASX:EDV) are trading 10.1 per cent higher at $7.16. 

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