Johannesburg – Spur, home to many children’s favourite
restaurant, expects to report improved earnings for the first half of the year.
However, this is due to several once off items, it says.
In a statement issued on Tuesday, the listed casual dining
company said earnings per share would be between 23 and 28 percent better than
for the six months to December.
This puts this indicator of financial performance at between
115.14c and 119.82c a share.
Earnings per share from continuing operations are expected
to gain by between 18 and 23 percent, while headline earnings per share – a key
figure of profitability – should increase by between 7 and 12 percent.
Headline earnings per share are expected to be between
109.10c and 114.20c a share.
Read also: Spur boosts RocoMamas base
Headline earnings per share from continuing operations
should gain to between 111.39c and 116.11 c a share, or 18 percent to 23
percent.
The company explains, by the end of June, it had ceased
trading in the UK and Ireland, and now discloses these operations separately to
continuing operations.
It notes, excluding the impact of the UK and Ireland
business unit, the increase in earnings from continuing operations is due to
certain one-off and unusual items in the current and prior periods including
the impact of the group’s cash-settled share incentive scheme, the fair value
adjustment to the RocoMamas contingent consideration liability arising from the
acquisition of RocoMamas in March 2015, and foreign exchange movements.
Stripping those items out, headline earnings would only have
gained between 2 percent and 7 percent, it says.
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