24 August 2012 11:00
SUR 201208240026A
Trading statement

(Incorporated in the Republic of South Africa)
(Registration number 1998/000828/06)
Share Code: SUR & ISIN: ZAE000022653
("Spur" or "the company")


Shareholders are advised that Spur is expecting to report growth of between
60% and 65% in earnings per share and between 28% and 33% in headline
earnings per share for the year ended 30 June 2012 compared to the previous
comparable period, being the year ended 30 June 2011.

Comparable profit before income tax, excluding exceptional and one-off items
and the contribution of DoRego’s from March 2012, is expected to grow by
between 18% and 23%. These exceptional and one-off items relate mainly to the
restaurant impairments and start-up costs in new international company-owned
restaurants in the prior year, bargain purchase gain on the acquisition of
DoRego’s in the current year and the movement in foreign exchange
gains/losses and share-based payment and related hedge fair value adjustments
relative to the prior year.

The financial information on which this trading statement is based has not been
reviewed or reported on by the company’s auditors. Spur’s reviewed condensed
consolidated results for the year ended 30 June 2012 are expected to be
published on 6 September 2012.

Cape Town
24 August 2012

A division of Sasfin Bank Limited

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