BRIEF-Spur Corp FY Diluted HEPS 52.1% Lower

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BRIEF-Spur Corp FY Diluted HEPS 52.1% Lower

Nov 20 (Reuters) - Spur Corporation Ltd SURJ.J :

* FY DILUTED HEADLINE EARNINGS PER SHARE 52.1% LOWER

* FY GROUP REVENUE DECLINED BY 19.4% TO R761.6 MILLION

* FY TOTAL FRANCHISED RESTAURANT SALES DOWN 21.7% TO R6.0 BILLION

* COVID-19 PANDEMIC AND RESULTANT LOCKDOWNS SEVERELY IMPACTED TRADING ACROSS GROUP

* GROUP IN AN UNGEARED FINANCIAL POSITION AT YEAR END

* CURRENT WEAK TRADING ENVIRONMENT IS EXPECTED TO CONTINUE IN MEDIUM TERM

* NO FINAL DIVIDEND HAS BEEN DECLARED.

* FRANCHISE AND MARKETING FEES ARE BEING INCREASED BUT REMAIN AT DISCOUNTED LEVELS

* ALSO REVIEWING COST STRUCTURE OF INTERNATIONAL OPERATIONS

* GRADUAL INCREASES IN FEE RATES ARE ANTICIPATED AS RESTAURANT TURNOVERS CONTINUE TO RECOVER.

* RESTAURANT INDUSTRY FACES A PROTRACTED PERIOD OF RECOVERY

* FRANCHISEES ARE STARTING TO REPORT STRONGER TURNOVER LEVELS POST HARD LOCKDOWN

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