Australia's Endeavour Group falls on weak FY results, unfavourable outlook
BUZZ-Australia's Endeavour Group falls on weak FY results, unfavourable outlook Updates
** Shares of Endeavour Group EDV.AX fall as much as 6.2% to A$3.18, hitting their lowest level since June 12
** Stock set for worst intraday trading session since May 4, if current losses hold
** Pub owner posts FY group underlying NPAT of A$363 mln ($260.34 mln), missing the Visible Alpha (VA) consensus estimate of A$364.8 mln
** Co says sales growth in the hotels segment for the first seven weeks of FY27 was up 2.2%, missing the VA consensus estimate of 2.9% growth for H1 FY27
** "Top-line results for hotels should improve into FY28 if the CAPEX investment is a success" - Jarden analysts
** Jarden expects co's retail segment to slow in the near term, putting pressure on earnings again in FY27
** Outlook for consumer spending remains uncertain given ongoing cost of living pressure - co
** Sees FY27 Group cost of doing business to be higher than FY26
** Stock down 11.5% YTD, including the session's moves
($1 = 1.3943 Australian dollars)
(Reporting by Shivangi Lahiri & Rajasik Mukherjee in Bengaluru)
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Australia's Endeavour Group falls on weak FY results, unfavourable outlook
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