SPUR CORPORATION LIMITED - Sales update for the six months ended 31 December 2016
26 January 2017 12:00
SUR 201701260031A
Sales update for the six months ended 31 December 2016

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 franchised restaurant sales from continuing
operations* by 10.4% to R3.8 billion in the six months to December 2016 (“the
period”), following the closure of the group’s UK operations in the previous
financial year.

Franchised restaurant sales in South Africa grew by 10.2%, with sales from
international restaurants (excluding the UK) increasing by 12.0% in Rand terms.
International restaurant sales (excluding the UK) increased by 9.3% on a
constant exchange rate basis.

Franchised restaurant sales for the six months ended 31 December 2016
                                         Total restaurant          Existing
                                                    sales  restaurant sales
                                             (% change)         (% change)
Spur Steak Ranches                                    4.0                2.0
Panarottis Pizza Pasta                               10.6                9.7
John Dory’s Fish Grill Sushi                         17.8                4.6
Captain DoRegos                                    (15.8)            (15.8)
The Hussar Grill                                     58.0              38.3
RocoMamas                                           113.3              45.0
Total South African operations                       10.2                4.6
Total international operations                       12.0              (0.9)
(excluding UK)
Total group – continuing                             10.4                4.1

A net 13 new outlets were opened locally during the period. Internationally, six
new outlets were opened, including the group’s first restaurants in New Zealand
(Spur), Ethiopia (Spur) and Oman (RocoMamas).

Chief executive, Pierre van Tonder, said the group had delivered a satisfactory
trading performance in the context of declining consumer confidence and
disposable income locally, and deteriorating economic conditions in the rest of
“Despite the slowing economy, RocoMamas continues to show strong growth
while the robust results from The Hussar Grill highlights the resilience of the
higher income consumer. Our focus in the second half of the year will continue to
be driving growth through value promotions, aggressive marketing and
expanding our local and international restaurant base.”

At 31 December 2016, the group’s restaurant base comprised 590 (June 2016:
575) outlets, including 60 (June 2016: 58) operating outside of South Africa.

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 2016 will be released on SENS on 23 February

* As previously advised to shareholders, all the group’s operations in the UK and
Ireland (which comprised a separate operating segment), had ceased trading by
30 June 2016.

Cape Town
26 January 2017

Sasfin Capital
A division of Sasfin Bank Limited

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