Cape Times

Worldwide sales up in tough times


STEAKHOUSE franchise group Spur Corporatio­n reported a 12.1 percent rise in worldwide sales and higher headline earnings, boosted by strong growth in its Panarottis Pizza Pasta business and despite a slowdown in consumer spending and a loss of income due to load shedding in South Africa. Spur’s sales rose to R6.2 billion with headline earnings up 4.7 percent to R141.5 million and diluted headline earnings per share down 3.2 percent at 152.8c per share, dented a share-based payment expense of R32.96m relating to the black economic empowermen­t deal with Grand Parade Investment­s in October 2014, as well as the increased number of shares in issue after this transactio­n. Sales in South African restaurant­s proved resilient in growing by 11.3 percent while internatio­nal restaurant sales increased by 18.6 percent. – ANA

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