Australia’s largest publican, Endeavour Group, has announced strong results for its first year as a stand-alone entity.
Listing on the ASX mid-2021 (ASX:EDG), the former Woolworths Group subsidiary counts around 340 hotels and clubs across the country, and major retail liquor brands Dan Murphy’s and BWS.
Total sales across the Group were in line with last year at $11.6 billion, while Net Profit after Tax was up 11.2 per cent, to $495 million.
Comparison with the comparable period of FY20 – the company stipulating that revenues were too disrupted in 2021 – sales across its retail outlets were up 12.7 per cent, and up 13.4 per cent in the hotels.
Shareholders saw basic earnings per share (EPS) of 27.6c – up 11.3 per cent on last year.
“The Financial year 2022 was a significant one for Endeavour Group, our first as an independently listed business, and together we delivered strong financial results,” said Endeavour MD and CEO, Steve Donohue, in the announcement.
“Our Retail segment had an exceptional first half, and our Hotels segment came back strongly in the second half.”
Endeavour’s retail footprint grew by a net 32 stores during the year, while the hotels division completed 40 renewals and acquired five new properties.
The results are delivered against the backdrop of multiple industry disruptions, including the ongoing impacts of the pandemic and closures, severe weather affecting stores and hotels on the east coast, staff shortages, and assorted supply chain challenges.
Endeavour’s release also reiterated its Sustainability goals and commitment to leave a positive imprint on each community, embracing the principles of Responsibility & Community, People and Planet. First shared in October 2021, the company reports it has since focused on establishing baselines and setting a strong foundation to deliver on the commitments.
“Australians are returning to socialising in hospitality settings, and the trend towards discovering new drinks is continuing,” furthers Donahue.
“While we anticipate that the operating environment will remain challenging, I’m confident our team of exceptional people, our customer-focused strategy, and our disciplined approach to financial management will enable us to continue to deliver for our customers, partners, team members and shareholders.”