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VENTURES AFRICA – Consumers in the target market of restaurant operator, Spur Corporation, are feeling the shock of the gloomy economy, CEO Pierre van Tonder, admitted on Friday.
Van Tonder said this had resulted in the slack growth in retail sales in the food and beverage sectors in the six months to December last year.
“Despite these pressures on our customers, we have performed well for the period,” van Tonder said.
“We will continue to reward our customers with great value, excellent food and a satisfying dining experience to ensure that we maintain and grow our market share,” van Tonder.
During the period under review, total restaurant sales surged 11.5 percent to R2.8 billion ($252m).
Sales in global operations gained 16.1 percent higher, boosted by the weak South African currency against a basket of units.