SPUR CORPORATION LIMITED - Sales update for the year ended 30 June 2017
24 July 2017 12:50
SUR 201707240023A
Sales update for the year ended 30 June 2017

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 4.2% to R7.2 billion in the year to 30 June 2017, following the
closure of the group’s UK operations in the previous financial year.

Franchised restaurant sales in South Africa grew by 4.4%, with sales from
international restaurants (excluding the UK) increasing by 2.4% in Rand terms.
International restaurant sales (excluding the UK) increased by 6.3% on a
constant exchange rate basis.

Growth in franchised restaurant sales for the year ended 30 June 2017
                                         Total restaurant            Existing
                                                    sales    restaurant sales
                                              (% change)          (% change)
Spur Steak Ranches                                   (2.1)               (3.4)
Pizza and Pasta (Panarottis & Casa                   13.3                10.1
John Dory’s Fish Grill Sushi                         14.3                  8.0
Captain DoRegos                                    (17.6)              (17.6)
The Hussar Grill                                     35.6                25.2
RocoMamas                                            78.1                62.6
Total South African operations                         4.4                 1.9
Total international operations                         2.4               (5.5)
(excluding UK)
Total group – continuing                               4.2                 1.1

A net 11 new outlets were opened locally during the year. Internationally, a net 5
new outlets were opened, including the group’s first restaurants in New Zealand
(Spur), Ethiopia (Spur), Oman (RocoMamas) and Saudi Arabia (RocoMamas).

Chief executive, Pierre van Tonder, said domestic trading conditions continued to
deteriorate in the second half of the year, with the Spur’s middle income market
being particularly impacted by the slowing economy.

“The robust performance of The Hussar Grill highlights the resilience of higher
income consumers while our pizza and pasta brands have also performed well.
RocoMamas continues to gain traction with the millennial market, with sales
growth being boosted by new restaurant openings as the brand’s footprint
expanded to 50 outlets locally.”

At 30 June 2017, the group’s restaurant base comprised 591 (June 2016: 575)
outlets, including 63 (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 annual results for the
year ended 30 June 2017 will be released on SENS on 7 September 2017.

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

Cape Town
24 July 2017

Sasfin Capital
A division of Sasfin Bank Limited

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