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Spur reports 6.5% increase in restaurant sales

The turnover growth, business model change was ‘really exciting’, says CEO

Even as economic pressure and weakening sentiment flurry, South Africans are not putting their steak dinners to rest. Spur reported total franchised restaurant sales in international and local operations increasing by 4.8% to R3.9 billion for the six months ended December 31 2018.

However, headline earnings decreased by 11.2% to R83.9 million, but Spur still resolved to maintain its interim dividend at 63 cents per share. To give an overview of what lies behind the performance, Pierre van Tonder, the CEO of Spur speaks to Nompu Siziba.

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