Spur Corporation (SUR) investor relations material

Executive summary

• Restaurant sales for the six months ended 31 December 2025 reached ZAR 6.4 billion, up 8% year-over-year, with group revenue up 8.5% and profit before tax up 13% to ZAR 244.7 million.

• Earnings per share increased 13.9% to 203.61 cents, and headline earnings per share rose 13.6%.

• Interim dividend declared at ZAR 1.20 per share, up 13.2% year-over-year.

• The group operates in 14 countries with 753 outlets, opening 29 new restaurants in South Africa and 9 internationally during the period.

• Strategic focus on brand innovation, digital engagement, and franchisee investment drove growth and market share gains.

Financial highlights

• Gross profit margin was 31.5% (vs 31.8% prior period); another source reports improvement to 43.6% from 43.1%.

• Operating profit margin improved to 10.8% (from 10.1%).

• Cash generated from operations was ZAR 217 million, a 21% increase.

• Cash and equivalents at period end were ZAR 458 million (ZAR 454.7 million in another source), lower due to share buybacks and higher dividends.

• Interim dividend per share increased 13.2% to 120 cents.

Outlook and guidance

• Plans to open 42 new restaurants in South Africa and up to 14 internationally in the next year.

• Focus on growth in healthy brands, risk mitigation for underperforming brands, and supply chain improvements.

• No fixed dividend policy; payout will depend on capital needs and contingent liabilities.

• Expansion opportunities identified in existing and new African markets, with no saturation in current territories.

• Market conditions remain challenging, but lower inflation and interest rates are expected to support consumer spending.