• Retail sales momentum building, with Dan Murphy's and BWS Q2 sales growth of 2.2%
• Hotels performing well, delivering Q2 sales growth of 4.5%
• Group Underlying EBIT of $563 million, at the upper end of previous guidance

Endeavour Group has reported its FY26 half-year results, with the Group delivering a first half earnings result that demonstrates the strength in its customer franchise as it restarts top line growth in Retail. In a challenging market, the Group's increased focus on value and price leadership has been embraced by customers, delivering both sales growth and market share gains. The Hotels business continues to improve its performance, supported by positive trends in food and bar transactions and growth in gaming revenue driven by targeted investment in refurbishments and new gaming machines. The Group has a unique asset portfolio, a large and loyal customer base and some of Australia's most trusted retail brands. It also has a talented team, including a new executive leadership group, who are energised about the future and hungry to deliver the significant change agenda ahead. The Group will no longer provide stand-alone quarterly trading updates, instead providing detailed updates on its trading performance at its half year and full year results, and otherwise updating the market as appropriate. In FY26, the Group expects capital expenditure of between $460 million and $500 million, including its One Endeavour program, and finance costs to be broadly in line with FY25.

In FY26, the Group expects capital expenditure of between $460 million and $500 million, including its One Endeavour program, and finance costs to be broadly in line with FY25.

The outlook for consumer spending remains uncertain given elevated inflation and rising interest rates. However, the Group's scale, value proposition and market leading brands mean it is well positioned to compete and win in a market where consumers remain focused on value for money.