News24.com | As lockdown restrictions ease, Spur says September turnover exceeded expectations

News24.com | As lockdown restrictions ease, Spur says September turnover exceeded expectations

The Spur Corporation has reported its best month of sales since the lockdown restrictions were relaxed to allow sit-down restaurant service at the end of June.

In a trading update on Thursday, Spur said its SA restaurants traded at 73.8% of last year’s turnover for September, an improvement from just 36.5% for July and 56.7% for August.

Spur owns Spur Steak Ranches, Italian food franchise Panarottis, seafood restaurant John Dory’s, burger joint RocoMamas and steak restaurant Hussar Grill.

The strongest performing brands for September were The Hussar Grill at 93.7% of last year’s turnover, and RocoMamas at 86.5%.

Spur has been beset by leadership changes in recent months with its Chief Executive Officer Pierre van Tonder announcing his retirement, while Chief Operating Officer Mark Farrelly and Chief Financial Officer Phillip Matthee both announced their resignations.  

Outgoing CEO Van Tonder, in a statement, said the recovery in restaurant turnover had “exceeded management’s expectations”.

“The improving monthly growth trend is particularly encouraging in the tight consumer environment where spending is under intense pressure.”

A week ago Spur named Val Nichas as its new CEO effect from January 2021.

The group’s annual results for the year ended 30 June will be released in mid-November. 

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