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Endeavour Group, Australia's biggest alcohol seller, reports a 15.8% profit drop, facing cost of living challenges.
Australia's largest alcohol retailer, Endeavour Group, saw a 15.8% drop in net profit to $426 million, citing subdued sales due to cost of living pressures, especially in poorer suburban areas.
The company plans to cut its dividend and is reviewing its business portfolio, which may lead to a split of its pubs and liquor stores.
Despite the retail sales decline of 1.2%, its hotel and club sales increased by 4.1%.
The company also plans to add 600 new poker machines.
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Endeavour Group, el mayor vendedor de alcohol de Australia, informa una caída del 15,8% en las ganancias, enfrentando desafíos de costo de vida.