SPUR CORPORATION LIMITED - Sales update for the 6 months to 31 December 2015
26 January 2016 10:00
SUR 201601260018A
Sales update for the 6 months to 31 December 2015

Spur Corporation Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/000828/06)
Share code: SUR
ISIN: ZAE 000022653
(“Spur Corporation” or “the group”)


Spur Corporation increased total restaurant sales by 12.6% to R3.5 billion in the
six months to December 2015 (“the period”).

Restaurant sales in South Africa grew by 13.2%, with sales from international
restaurants increasing by 8.3% in Rand terms. International restaurant sales at a
constant exchange rate increased by 3.9%.

Restaurant sales for the six months ended 31 December 2015
                                        Total restaurant         Existing
                                                   sales restaurant sales
                                            (% change)        (% change)
Spur Steak Ranches                                   6.7              3.7
Panarottis Pizza Pasta                              21.6             10.2
John Dory’s Fish Grill Sushi                        20.2              4.3
Captain DoRegos                                      0.6           (13.5)
The Hussar Grill                                    36.9             18.5
Total South African operations                      13.2              4.1
Total international operations                       8.3              0.9
Total group                                         12.6              3.7

Sales for the RocoMamas chain, which was acquired with effect from 1 March
2015, are included in the group’s total restaurant sales. Customer response to
the new brand has been particularly pleasing and in the past six months 22
RocoMamas outlets have been opened locally and one in Namibia, bringing the
restaurant base to 32.

Chief executive, Pierre van Tonder, said the group delivered a solid performance
in a trading environment which became increasingly difficult in the latter stages of
the 2015 calendar year and affected festive season sales.

“Panarottis produced a strong performance while other brands were impacted by
the slowdown in middle-income spending. The Hussar Grill performed well as its
higher income target customer proved more resilient to the current economic
“Despite the slowing economy, the group has continued to expand its presence
across all brands locally and offshore, opening a net 46 stores in South Africa
and 4 in the international operations in the past six months.”

The financial information in this sales update has not been reviewed or reported
on by the group’s independent auditor. Spur Corporation’s interim results for the
six months ended 31 December 2015 will be released on SENS on 25 February

Cape Town
26 January 2016

Sasfin Capital
A division of Sasfin Bank Limited

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