Johannesburg - Spur Corporation, which is home to brands such as Panarottis and John Dory’s, grew sales 12.9 percent in the year to June, despite lacklustre economic conditions.
It says sales during the period grew to R12.9 percent, which was thanks to local turnover and foreign exchange gains as the international division gained 2.8 percent in constant currency.
The group says in a statement to shareholders on Wednesday that restaurant sales in South Africa grew 13 percent, while sales from international restaurants increased 12.9 percent in rand terms.
On a like-for-like basis, stripping out additional outlets, sales grew 5.3 percent overall. The biggest gainer was The Hussar Grill, which grew 51.8 percent if its new outlets are taken into account.
Spur bought The Hussar Grill at the end of 2013 for R35 million.
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In the statement, Spur says it opened 74 outlets in South Africa and ten internationally during the year, including 33 RocoMamas outlets locally.
Thirteen Captain DoRegos outlets were closed.
All eight of the group’s remaining restaurants in the UK and Ireland were closed during the year, following the decision to cease operations in that region and focus the international business primarily on Africa and Australia.
This takes its total base to 575 outlets, of which 58 operate outside SA.
Spur expects to report results on September 8.
IOL