SPUR CORPORATION LIMITED - Trading statement for the year ended 30 June 2021
17 September 2021 10:00
Trading statement for the year ended 30 June 2021

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


The general macro-economic impact of COVID-19, and the resultant erratic trading restrictions imposed
in South Africa and globally, continue to create uncertainty in the restaurant industry and impacted the
group’s franchised and company-owned restaurants.

New restaurant turnover trends emerged that were closely aligned to the changing regulations of
seating capacity, take-away/deliveries only and curfew hours.

However, despite the continuation of these difficult trading conditions, the group’s casual dining
restaurants were more poised to handle deliveries and take-aways, loyal customers were more
responsive to convenience channels such as click and collect, and, overall, the second half of the F2021
trading year produced improved results that indicate a slow, but positive recovery.

The group therefore managed to grow franchised restaurant sales by 1.0% for the financial year. This
represents a 67.6% increase in the second half of the financial year, over the same period in F2020,
which was severely impacted by the total prohibition on sit-down trade in the fourth quarter.

Restaurant sales

                                                              Total restaurant sales growth (%)
                                                 H1 F2021 vs H1      H2 F2021 vs H2        F2021 vs F2020
                                                     F2020                F2020
 Spur                                                (31.0)                81.0                    2.7
 Panarottis and Casa Bella                           (36.6)                63.5                   (5.7)
 John Dory’s                                         (40.1)                65.0                   (9.1)
 The Hussar Grill                                    (37.6)                50.5                   (8.3)
 RocoMamas                                           (15.3)                65.3                   13.1
 Nikos                                               (34.5)                31.6                   (12.8)
 Total South Africa                                  (31.0)                74.5                    1.5
 Total International                                 (17.3)                22.3                   (3.0)
 Total Group                                         (29.5)                67.6                    1.0
Group revenue and profit

Although restaurant sales in the second half of the financial year improved over the first half,
concessions to standard franchise and marketing fee rates charged to franchisees during the year to
support their financial sustainability impacted group revenue and profit.


Consolidating the net marketing fund surpluses and deficits, as well as various once-off and unusual
items in both the current and previous financial years, including an impairment of a withholding tax
receivable of R11,7 million in the prior year, increased total earnings for the year over that reported in

Shareholders are therefore advised that the group is expecting to report earnings per share (EPS)
and headline EPS (HEPS) in the following ranges for the current financial year:

                                                    F2021               F2020              % change
 EPS (cents)                                  108.39 – 112.23           76.87             41% - 46%
 Diluted EPS (cents)                          108.04 – 111.87           76.62             41% - 46%
 HEPS (cents)                                 108.20 – 112.36           83.23             30% - 35%
 Diluted HEPS (cents)                         107.85 – 112.00           82.96             30% - 35%

However, comparable EPS and Comparable HEPS, which are EPS and HEPS excluding the impact of
the net marketing fund surpluses and deficits and the various once-off and unusual items referred to
above, is expected to decline between 15% and 20% for the year.

The financial information on which this trading statement is based is the responsibility of the
directors and has not been reported on by the group’s independent auditor.

The group’s results for the year ended 30 June 2021 are expected to be released on 23 September

Cape Town

17 September 2021



Date: 17-09-2021 10:00:00
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