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Promotions help lift Spur restaurant sales

March 8 2013 at 08:00am

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The growth of Spur’s market share underpinned by robust Christmas trading, aggressive promotions and customer loyalty lifted restaurant sales by 17.5 percent in the six months to December, the fast food franchisor said yesterday. Breakfast and weekday promotions drove up sales at Spur Steak Ranch outlets by 16.5 percent. Turnover from existing restaurants was up 13.7 percent. Spur increased revenue by 40.4 percent to R331.6 million in the six months to December from a year earlier. The group’s profit before tax jumped 25.8 percent to R111.3m when once-off gains were included. Comparable profit before income tax without the once-off items increased by 17.2 percent. Profit for the period rose to R77.5m. Spur declared an interim cash dividend of 55c a share. It planned to open 11 new Spur restaurants, one Panarottis site and two DoRego’s outlets in the next six months. The shares gained 0.92 percent to R26.24. – Londiwe Buthelezi


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