In light of a softening consumer environment, Endeavour Group managing director and CEO, Steve Donohue, said the business’ F24 performance reflected its resilience during “challenging trading conditions” and a “softening” consumer environment. Both retail and hotels segments delivered sales and EBIT growth.
Snapshot
- group sales: $12.6b, up 3.6% on prior corresponding period (pcp);
- goup EBIT: $1.1bm up 3.1% pcp; and
- Group NPAT: $512m, down 3.2% pcp.
Endeavour’s Pinnacle Drinks launched 400 products during FY24, which drove more than 50 per cent of its growth. And more than half its $1.8 billion in retail sales came from wine in the premium and luxury segments.
Donohue said the company’s optimisation program, endeavourGO, saved more than $100 million in the year.
“Our investments in enhancing our capability to drive efficiency across the business, including deploying AI and other technology, continue to contribute to both cost efficiency and GP margin expansion,” he said
“During the year, we progressed work on our One Endeavour program to separate from Woolworths systems and simplify our technology landscape, with a new Property Lease Management System implemented. We expect to complete People Systems and commence Store systems in F25, with our ERP build to commence in F26.”
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