Spur dealing with fallout of a collapse in revenue and earnings despite growth in take-aways

Despite Spur's take-away sales more than doubling during the pandemic, against the previous year, the franchise restaurant group saw a collapse in earnings, along with an over 40% drop in revenue in the back half of 2020.

Spur's revenue declined by 40.2% to R314.2 million for the six months to end December. Its total franchised restaurant sales across its local and international operations decreased by 29.5% to R2.9 billion with South African franchised restaurant sales declining by 31% for the period. International franchised restaurant sales, for the same period, decreased by 17.3%.

The Spur group also owns RocoMamas, Panarottis, John Dory's and The Husser Grill.