Data provided by iNet BFA
Loading...
See More

Restaurants boost Spur turnover

Jan 22 2013 13:38 I-Net Bridge
spur


Company Data

SPUR CORPORATION LIMITED [JSE:SUR]

Last traded 31.23
Change 0.63
% Change 0.02
Cumulative volume 20105
Market cap 3.05bn

Last Updated: 28/07/2014 at 01:08. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

SA loves Spur, survey shows

Spur stocks climb on higher H1 profit

'Spur will cooperate with investigation'

Spur acquires DoRego's

Spur lands John Dory's

Spur issues cautionary

 

Johannesburg - Spur Corporation [JSE:SUR] advised Tuesday that it increased restaurant sales across its brand portfolio by 17.5% in the six months to end-December 2012‚ with restaurant turnover exceeding R2.4bn for the period.

Sales from existing outlets were 12.8% higher.

Restaurant sales in South Africa increased by 16.5% for the six month period‚ while sales in the international operations were 26.4% higher in rand terms‚ it said in a trading update.

Sales in Spur Steak Ranches locally increased by 16.5%‚ with turnover from existing restaurants up 13.7%. The strong growth was driven mainly by the continued success of the Spur Family Card loyalty programme‚ aggressive marketing and the momentum built in the breakfast market‚ the group noted.

Panarottis Pizza Pasta lifted local restaurant sales by 30.6% as the brand benefited from a renewed focus on its core products of pizza and pasta. An improved family offering‚ the refurbishment of several outlets and the upgrading of kids’ play facilities have all contributed to the excellent sales growth.

Turnover from existing outlets increased by 19.7%.

Sales in John Dory’s Fish Grill Sushi restaurants locally grew by 11.9% and by 9.7% in existing stores.

DoRego’s‚ the value-oriented franchise takeaway chain‚ was only acquired by the group with effect from 1 March 2012 and therefore does not report a comparative sales performance. DoRego’s offers chicken‚ seafood and burger s to the fast-growing lower to middle income market and has a strong presence in the Free State‚ Gauteng and Eastern Cape.

Chief executive Pierre van Tonder‚ said: "We have continued our aggressive promotions strategy and focused on the group’s core strengths of quality‚ good value and innovative marketing to gain market share in the highly competitive family sit-down restaurant market".

He said retail sales figures from Statistics SA showed an increase of only 0.9% in October and 3.4% in November 2012‚ highlighting the increasing pressure on consumer spending.

"It is therefore particularly pleasing to report such strong growth across our brands in this challenging environment and to continue to attract increasing volumes of customers."

Spur also reported robust festive season trading‚ with restaurant turnover growing by 16.2% for the month of December. In South Africa‚ Spur Steak Ranches‚ which accounts for approximately 80% of the total South African sales‚ increased turnover by 14.6%. Panarottis Pizza Pasta grew sales by 33.2% and John Dory's by 11.3%. International restaurant sales increased by 25.3%.

Spur’s interim results will be released on 7 March 2013.  

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

spur corporation
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

No more nice-to-have shopping sprees

Fin24 user Asia writes how she managed to rehabilite herself from splurging on feel-good iitems and keep clean from the bondage of lifestyle debt.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...