RocoMamas in South Africa causes Spur to wobble

Spur Corporation increased sales by 4.8% to R3.9 billion (and by 6.5% excluding the Captain DoRegos chain which it sold in March 2018) in the six months to 31 December 2018.

Headline earnings fell by 11.2% to R83.9 million.

Diluted headline earnings per share declined by 10.9% to 87.8 cents.

The company will maintain its interim dividend at 63 cents per share.

Spur is planning to open at least 12 South African restaurants in the second half of 2019.

The Money Show’s Bruce Whitfield interviewed Pierre Van Tonder, CEO at Spur Corporation.

For more detail listen to the interview in the audio below (and scroll down for quotes from it).

We stopped the specials because there was an erosion of franchisee margins…

Pierre Van Tonder, CEO - Spur Corporation

There’s been a clawback from Spur from a RocoMamas point of view…

Pierre Van Tonder, CEO - Spur Corporation

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