Q1 2024 Endeavour Group Ltd Trading Update Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Shaun Robert Cousins - UBS Investment Bank, Research Division - Analyst : Steve, just a question regarding retail. I think your inflation seems to be running a little bit below where excise is. I'm just -- want to ask a few questions around premiumization. That didn't seem to be called out at this time where that has arguably been a feature of recent years. And then also promotions, has promotional intensity risen? And what's been the net impact on sales? Conscious that might mean lower prices, but your volumes also seem to be falling there. So just some questions around retail, please.

Question: Shaun Robert Cousins - UBS Investment Bank, Research Division - Analyst : Premiumization. Are you still seeing premiumization?

Question: Shaun Robert Cousins - UBS Investment Bank, Research Division - Analyst : Great. And then just promotional intensity and how is that playing out, because your volumes seem to be falling?

Question: Ross Curran - Macquarie Research - Analyst : I might just going to right back to the very start around David's question. Are you able to give us a bit more color around the relative performance of Dan's and BWS? Are they both growing at a similar rate? Or are you seeing customers prefer the big box stores or the convenience stores at the moment?