Restau­rant sales in­crease to R7.2bn

The Star Early Edition - - COMPANIES - – Sizwe Dlamini

SPUR Cor­po­ra­tion in­creased to­tal fran­chised restau­rant sales from con­tin­u­ing op­er­a­tions by 4.2 per­cent to R7.2 bil­lion in the year to June, fol­low­ing the clo­sure of the group’s UK op­er­a­tions. All its op­er­a­tions in the UK and Ire­land – which com­prised a sep­a­rate op­er­at­ing seg­ment – ceased trad­ing by June 30 last year. The group said in its sales up­date re­leased yes­ter­day that fran­chised restau­rant sales in South Africa grew by 4.4 per­cent, with sales from in­ter­na­tional restau­rants (ex­clud­ing the UK) in­creas­ing by 2.4 per­cent in rand terms. In­ter­na­tional restau­rant sales in­creased by 6.3 per­cent on a con­stant ex­change rate ba­sis. In­ter­na­tion­ally, five new out­lets were opened, in­clud­ing the group’s first restau­rants in New Zealand (Spur), Ethiopia (Spur), Oman (Ro­coMa­mas) and Saudi Ara­bia (Ro­coMa­mas). Chief ex­ec­u­tive Pierre van Ton­der said do­mes­tic trad­ing con­di­tions con­tin­ued to de­te­ri­o­rate in the sec­ond half of the year, with the Spur’s mid­dle-in­come mar­ket be­ing im­pacted by the slow­ing econ­omy. “The ro­bust per­for­mance of The Hus­sar Grill highlights the re­silience of higher in­come con­sumers while our pizza and pasta brands have also per­formed well. The com­pany’s re­sults for the year to June will be re­leased in Septem­ber.

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