Higher interest rates hit on Endeavour Group's profit

Endeavour Group attributed its profit drop to increased costs on its nearly $2 billion in net debt. (Dan Himbrechts/AAP PHOTOS)

Australia's biggest alcohol retailer says sales were up but profit was down in 2023/24, as higher interest rates took their toll.

Dan Murphy's and BWS bottle shop and pub owner Endeavour Group said sales were up 3.6 per cent to $12.3 billion in the 53 weeks to June 30,  while profit dropped 3.2 per cent to $512 million.