Spur Corporation realizes 19.4% decline in full year earnings impacted by drastic drop in sales

SOUTH AFRICA – Spur Corporation, steakhouse franchise restaurant headquartered in South Africa has reported a 19.4% decline in full year revenue to R761.6 million (US$49.75m) for the period ended 30 June 2020, resulting from dwindling sales impacted by the COVID-19 disruptions. Its headline earnings decreased by 56.1% to R72.5 million (US$4.7m) with diluted headline earnings per share 52.1% lower at 82.96 cents. According to the fast-food chain, revenue from its South African operations, which accounted for 95.7% of total group revenue, decreased by 19.3% while international revenue declined by 20.9%…

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