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Spur's earnings rocket as customers head back to restaurants | Fin24

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Spur Corporation’s earnings climbed 119% to R59 million in six months as customer restaurant returns increased.

In the half-year ended 31 December 2021, the group’s revenue increased by 40% to R441 million. The restaurant chain owner attributed the growth to a boost in franchise restaurant turnover and increased sales at its five company-owned restaurants and manufacturing and distribution division.

Total sales across the franchised restaurants increased by 28.3% to R3.7 billion, while headline earnings per share rose by 119% to 70.10 cents. In its interim results released on Thursday, Spur said it declared an interim dividend of 49 cents per share. Despite the improved performance, Nichas said the franchised restaurant turnover was 9.5% behind pre-pandemic levels.

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