ASX-listed Endeavour Group has released its latest trading figures, reflecting a certain COVID bounce amid natural disaster challenges.
The release covers group sales for the period from 3 January to 3 April, 2022.
The Hotels division, aka ALH, exhibited trading improved as COVID-19 related restrictions eased, up 3.8 per cent on the same corresponding period (not adjusted for Easter), to $405m.
Retail sales were slightly lower than last year, down three per cent, to $2,323m.
EDG reports the pandemic has continued to negatively affect operations, via consumer hesitancy, and business was further impacted by the floods and adverse weather across parts of Queensland and NSW, which reportedly caused extensive damage to some EDG liquor stores and hotels.
The bill is estimated at around $9 million, taking into account direct costs as a result of the floods, clean-up costs, asset write-offs, and an estimate of lost profits.
Throughout the crisis, in conjunction with its customers, EDG raised over $800k to help communities impacted by the floods.
This quarter brought continued investment in the hotels network, welcoming eight lease renewals, and two new acquisitions in the Empire and Grand Tasman hotels, bringing the group total to 344 venues, including five managed clubs.
Off-premise sales declined by 0.7 per cent (Easter-adjusted) as customers returned to venues, but online sales continued to increase, up 16.8 per cent to $222 million. This now represents 9.6 per cent of retail sales for EDG.
“These results are once again delivered within the context of an uncertain operating environment with extreme weather events, ongoing supply chain disruptions and growing inflationary pressures creating new challenges,” says Endeavour managing director and CEO, Steve Donohue.