Spur Corporation’s shares increased significantly after it announced another successful year, driven by stronger sales and expansion both in South Africa and internationally. As of Thursday morning, the company’s shares jumped by over 6%, reaching R35.15, with an earlier high of R35.80.
The owner of popular brands like Spur Steak Ranches, Panarottis, and John Dory’s reported that profits grew because more customers spent slightly more on meals, even though the number of customers remained steady. The company also benefited from new store designs and targeted marketing campaigns, helping them stay competitive against supermarket chains that are offering more ready-made meals.
Financially, Spur posted a 16.8% increase in headline earnings per share, now at 339.88 cents. Group revenue rose by 11.2% to R3.9 billion, and profit before tax increased by 17.5%. Franchised restaurant sales also grew by 8.3%. The company now operates more than 700 outlets across 14 countries. It opened more new restaurants than it closed and plans to expand even further in South Africa over the coming year.
Spur declared a final dividend of 193 cents per share, which brought the total payout for the year to 299 cents per share — a 40.4% increase. Despite its positive results, the company acknowledged that economic pressures on households could make trading conditions difficult in the short term.
Looking ahead, Spur remains optimistic about long-term growth. The company’s diverse portfolio of 10 restaurant brands positions it well to gain market share across various regions and customer segments. Their focus is on offering value and unique dining experiences to both middle-income families and higher-income customers, with plans to continue creating new opportunities for customers, franchisees, employees, and investors alike.