Spur sales increase to R7bn

The company opened 44 new restaurants and closed 18 in South Africa, while 11 were opened and nine closed internationally.

Chain restaurant owner Spur Corporation reported a 1.3% increase in total franchised restaurant sales to R7.1 billion in the year to June 30, 2018.

Spur said franchised restaurant sales in South Africa grew by 1.5%, but sales from international restaurants declined by 0.7% in Rand terms. The results exclude the Captain DoRegos chain, which was sold in March 2018.

In South Africa, 44 new restaurants were opened and 18 closed during the year, while 11 restaurants were opened and nine closed internationally.

Pierre van Tonder, group chief executive, said the Spur brand had continued its recovery in the second half of the financial year after a 6.1% decline in the first half, adding the local trading environment was likely to remain subdued until the economy was able to grow sustainably.

Van Tonder said the group’s strategic shift in reducing reliance on discounting, and replacing it with promotion and product improvement, had improved franchisee margins and ensured the franchise’s financial model remained sustainable.

Spur Group has 569 outlets worldwide, with restaurants in various parts of Africa, Mauritius, the Middle East and Australasia, consisting of Spur International, Spur Steak Ranches, Panarottis Pizza Pasta, John Dory’s Fish Grill Sushi, The Hussar Grill, RocoMamas, Spur Grill & Go and Casa Bella.

For more news your way, download The Citizen’s app for iOS and Android.

today in print