Australia's Endeavour falls, Citi flags higher-than-expected charges and impairments

Endeavour

05/08/2026 01:06

** Shares of Australia's Endeavour Group EDV.AX down 2.9% at A$3.39
** Owner of liquor chain Dan Murphy's says preliminary 2026 underlying profit fell 14.8%, flags significant item expenses worth A$372 million ($262.11 million) for current year
** Citi says prelim underlying net profit after tax of A$363 million broadly in line with both consensus expectations and the broker's estimates
** Brokerage cautious about scale of below-the-line items not reflected in market expectations
** Citi says A$53 million of second-half restructuring and strategy review costs are likely to surprise investors, with consultancy expenses not separately disclosed from redundancy costs
** Sees improving retail sales trajectory as encouraging, but says sizeable restructuring costs and impairments may attract investor scrutiny
** Four of 14 analysts rate the stock "buy" or higher, four "hold" and six "sell" or lower; their median PT is A$3.10, according to data compiled by LSEG
** Stock down 4.9% this year, as of last close

($1 = 1.4192 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))