Endeavour Group shares fell as much as 6% to $4.21 in early trading, nearing record lows, after half-year results missed earnings expectations by 1% and showed weaker profits. The stock has dropped nearly 50% from its 2022 peak.
The drinks retailer faces economic headwinds, lower alcohol consumption, and supply chain disruptions from Woolworths warehouse strikes. Interim revenue declined 0.7% to $6.62 billion, with profit down 15.1% to $298 million.
The dividend was cut to 12.5 cents per share, payable April 10, as pub earnings also fell short of forecasts.