VENTURES AFRICA – South Africa listed restaurant operator, Spur Corporation, is expecting its interim per share headline earnings for the period to end December to surge by between 32 and 37 percent, a significant rise from the prior year period.
Spur Corporation operates brands such as Panarottis Pizza, Spur and John Dory’s. The expected surge in headline earnings per share is in line with other fast foods operators in South Africa who have generally reported significant increases in profitability and revenue generation.
The rise is also in line with chief executive Perre van Tonder’s earlier projections. He said in January that sales across its operations would increase by 17.5 percent during the same period under review.
Business Day reported at the time that that the surge in sales was underpinned by “quality, good value and innovative marketing,” according to the company’s chief executive.
“It is therefore particularly pleasing to report such strong growth across our brands in this challenging environment and to continue to attract increasing volumes of customers,” Tonder said on Tuesday.
The company is expecting profits before tax to come in at about 22 and 27 percent stronger while profits after tax are projected to be between 30 and 35 percent higher.
Results for the period will be announced on March 7 while the results projections lifted up the company’s stock 0.04 percent higher.