Australian pubs operator Endeavour drops after profit falls, CEO steps down

Endeavour

28/02/2025 24:05

** Shares of Australia's Endeavour Group EDV.AX are down 4.2% at A$4.29 at 2314 GMT

** EDV fell as much as 6.2% to A$4.210 earlier in the session, marking their biggest intraday drop since August 26

** EDV among top losers in the ASX200 benchmark index .AXJO

** Alcohol retailer and pubs operator says retail sales growth down 0.8% for the first seven weeks of 2H25, impacted by supply chain disruption

** Posts 1H25 profit attributable of A$298 million ($185.62 million), down 15.1% from a year ago but largely in-line with the Visible Alpha consensus of A$299.2 million

** Also declares interim dividend of 12.5 Australian cents, unchanged

** Says CEO and Managing Director Steve Donohue would step down; Ari Mervis will be appointed executive chairman

** Jarden analysts say no news on a CEO appointment and a weaker trading update for retail is likely to weigh on the stock

** Stock up 1.4% YTD, including current session's moves

($1 = 1.6054 Australian dollars)

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))