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% and comparable profit up 12.6% to R402 million.

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

• Final dividend of R1.93 per share, total dividend for the year R2.99, a 40% increase.

• Five-year strategic journey focused on brand rejuvenation, franchisee support, and sustainability.

• The group expanded to 724 restaurants, with 619 in South Africa and 105 internationally, despite challenging market conditions.

Financial highlights

• Gross margin improved to 32.6% from 32% in the prior year.

• Operating profit margin rose to 9.7% from 8.9% year-over-year.

• Net profit increased 17.2% to R287 million; EPS up 17.2% to R3.37.

• Cash generation from operations was R463 million, R133 million higher than the prior year.

• Cash and cash equivalents at year-end were R537.7 million, up from R428.4 million.

Outlook and guidance

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

• Focus on continuous improvement in customer, employee, franchisee, and investor experience.

• Continued focus on value creation, innovation, and technology to drive future growth.

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