SPUR CORPORATION LIMITED - Sales Update and Trading Statement for the year ended 30 June 2022
15 August 2022 7:30
Sales Update and Trading Statement for the year ended 30 June 2022

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


Franchised restaurant sales

The group achieved a strong trading performance for the year, following a recovery from the impact of the
global COVID-19 pandemic in the past two years.

Franchised restaurant sales for the year ended 30 June 2022 are 28.2% higher than the prior financial year,
and are pleasingly slightly ahead of the 2019 financial year pre-pandemic levels.

Following the relaxation of trading restrictions, trading conditions improved from August 2021 with
franchised restaurant sales in the first half of the 2022 financial year growing by 28.3% over the prior
comparable period to December 2020.

This strong growth trend continued into the second half of the 2022 financial year, with a 28.5% increase in
local restaurant sales and a 24.7% increase in international restaurant sales over the second half of the 2021
financial year.

Although economic conditions remain challenging in the face of higher inflation and severe pressure on
consumer disposable income, the group’s business model continues to demonstrate its resilience. The group
continued to focus on increased brand awareness, everyday value and consumer convenience, including
takeaways, click and collect services and third-party deliveries.

In addition, the close collaboration and partnership with the franchise network enabled several ongoing
strategic initiatives to be implemented during the year, including supply chain improvements.

 Restaurant sales                          Total restaurant sales growth (%)
                             6 months to Dec         6 months to        Full year to June
                                2021 vs 6           June 2022 vs 6       2022 vs full year
                              months to Dec        months to June          to June 2021
                                  2020                   2021
 Spur                             32.6                    27.9                  30.1
 Panarottis                       33.4                    29.5                  31.4
 John Dory’s                      31.5                    23.2                  27.0
 RocoMamas                        29.4                    21.5                  25.3
 Speciality Brands*               41.8                    60.6                  52.0
 Total South Africa               32.6                    28.5                  30.5
 Total International              (1.8)                   24.7                  10.3
 Total group                      28.3                    28.2                  28.2

* Speciality brands include The Hussar Grill, Casa Bella and Nikos

Group revenue and profit

The improved trading performance together with a focus on expanding margins, as well as the reduced level
of financial support required by franchisees post pandemic, led to a strong recovery in both group revenue
and profit.

The earnings growth for the year includes the effect of the following material once-off and unusual items:

    •   the prior year’s earnings includes the consolidation of a net marketing fund surplus of R24 million
        which did not occur in the current year; and
    •   a once-off cost against earnings in the current year of R22 million, which was previously paid to the
        South African Revenue Service, as reported on SENS on 18 October 2021.

Trading statement

Shareholders are advised that the group is expecting to report earnings per share (EPS) and headline EPS
(HEPS) as follows:

                                                 2022                    2021             % change
 EPS (cents)                           141.33 – 146.88                  110.85          27.5% - 32.5%
 Diluted EPS (cents)                   141.32 – 146.86                  110.84          27.5% - 32.5%
 HEPS (cents)                          141.19 – 146.73                  110.74          27.5% - 32.5%
 Diluted HEPS (cents)                  140.72 – 146.24                  110.37          27.5% - 32.5%

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

The group’s results for the year ended 30 June 2022 are expected to be released on 19 August 2022.

Cape Town
15 August 2022


Questco Corporate Advisory Proprietary Limited

Date: 15-08-2022 07:30:00
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