Spur Corporation (SUR) H2 2025 earnings summary

Executive summary

• Restaurant sales reached R11.5 billion, up 8.5% year-over-year, with revenue up 11.2% to R3.9 billion and profit before tax up 17.5% to R401.7 million.

• Earnings per share increased 17.2% to 337.51 cents, and cash generated from operations was R463 million.

• Dividend per share increased 40% to 299 cents, with a final dividend of 193 cents per share.

• Doppio Collection integration and expansion of specialty brands contributed to growth.

• The group operates 724 restaurants across 14 countries, with Spur, Panarottis, and RocoMamas as leading brands in South Africa.

Financial highlights

• Gross margin improved to 32.6% from 32% year-over-year, and operating profit margin rose to 9.7% from 8.9%.

• Group profit before tax rose 17.5% to R401.7 million; headline earnings up 16.5% to R275 million.

• Cash and cash equivalents at year-end were R537 million, with unrestricted cash at R477.1 million.

• Dividend payments totaled R176 million, with R38.8 million spent on share repurchases.

• Return on equity improved to 31.7% year-over-year.

Outlook and guidance

• Plans to open 42 new stores in South Africa and 14 internationally in FY2026.

• Focus on value creation, digital transformation, and expanding supply chain efficiencies.

• Scenario planning for long-term sustainability and expansion across Africa.

• Continuous improvement in customer, employee, franchisee, and investor experience.