Group profit rose almost a fifth in Spur’s half-year to end-December, with the balance sheet benefiting from an exit by Grand Parade Investments
Restaurant group Spur, the owner of RocoMamas and John Dory’s, upped its interim dividend to end-December by almost a quarter, with profits receiving a boost after its black empowerment partner sold off a stake in 2019.
Grand Parade had sold its 10% stake in Spur as part of an exit of various food ventures as it seeks to reduce the discount to its net asset value per share. The group reported that SA’s middle-income consumers had come under additional strain due to SA’s weak economy, while load-shedding also took its toll.
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