Spur doubles earnings as Covid-19 restrictions ease

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Restaurant activity rebounded strongly, particularly in the last three months of 2021, but turnover and profit still remain below pre-pandemic levels

Restaurant group Spur, the owner of RocoMamas, the Hussar Grill and John Dory’s, says headline earnings more than doubled in its half year to end-December, as revenue rebounded in the wake of easing Covid-19 restrictions.

A strong increase in restaurant foot traffic helped revenue grow 40.3% to R441m to end-December, the group said, with headline earnings rising 119.4% to R59m, the latter still down almost a fifth from the same period in 2019...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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