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Spur's earnings set to grow

February 20 2013 at 08:00am

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Spur was expecting growth of between 32 percent and 37 percent in earnings a share and headline earnings a share for the six months to December, the listed restaurant group said yesterday.

Spur, whose brands include Spur Steak Ranches, Panarottis Pizza Pasta and John Dory’s Fish & Grill, expected to report growth in pretax profit of between 22 percent and 27 percent, and a growth in profit and headline earnings of between 30 percent and 35 percent for the period.

Profit before tax would include R6.4m arising from one-off items. Excluding this impact, the contribution of the DoRego’s businesses acquired in March last year, as well as foreign exchange gains and losses and other one-off items, Spur expected that pretax profit would increase by between 14 percent and 19 percent. Shares in Spur rose 0.04 percent to close at R25.90. – Nompumelelo Magwaza


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