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Do you think the franchise model actually holds up if consumer spending stays weak though. Spur's been riding on decent earnings but half the revenue comes from franchisees struggling with load-shedding and rising costs, ja.
Good Morning Everyone, SUR sitting at R42.05, franchise model holding up better than direct ops during load shedding season.
sur finally waking up at r42.05, franchise model is printing money while competitors like tsogo sun are still sorting themselves out. earnings growth in the last two years has been solid and the casual dining rebound aint over yet. best is yet to come!
Do you think SUR can actually justify the valuation without meaningful revenue? Last close was R44.69 but I'm not seeing the fundamentals yet. Similar explorers trade on optionality, sure, but where's the catalyst in the next 12 months.
@julianreins_jse exactly, inventory turns dont lie. good day to top up
Look, SUR closed at R44.69 and yeah the balance sheet is tight but this is exactly where Shoprite was before they scaled. We're pre-revenue, can't fix stupid if you don't see the vision here. Management has the connections and the logistics play is real, people just don't get it yet.
@julianreins_jse spot on with the inventory angle, that's the real tell
SUR's got more grunt than the Bulls pack right now
@julianreins_jse what capex timeline though, cash position looking tight to me
SUR sitting at R44.69 but the rand weakness is actually helping exports, check the MD&A on fx headwinds from last quarter. Margins compressed but volume growth offsetting it, been watching the inventory turns improve which suggests demand is real not just pricing. Could read as a recovery play if they execute on capex, comparable multiples to RMH are still cheaper here.
SUR taking a 2.38% knock today but the dividend yield around 3.8% is still decent for a restaurant player with recovery momentum. Revenue's been climbing nicely the last two years, though eish, the P/E sits elevated at 18x which leaves little margin for error if consumer spend ti
Grabbed another tranche of SUR at R4200 this morning when that -2.55% flush hit the tape. Consumer discretionary always gets hammered first in these fear cycles, but Spur's franchise model and pricing power make these dips lekker opportunities to compound positions ahead of the n
SUR's 5.82% decline today likely reflects broader consumer discretionary weakness as household real incomes continue compressing amid persistent inflation and elevated debt servicing costs, though the sell-off may present a tactical entry for long-term investors given the company
SUR's 3.71% pullback today is immaterial noise for a family office with generational holding periods, though the knee-jerk selling warrants examining whether same-store sales momentum has genuinely deteriorated or if this is merely seasonal restaurant traffic weakness we should e
Has anyone else noticed the working capital deterioration in Spur's last set of financials, particularly the spike in trade payables relative to receivables? With the rand weakness putting pressure on their imported ingredient costs and franchisee cash flows already strained post
Spur bouncing today on what looks like relief buying, but that P/E still needs justification given the restaurant sector headwinds we're seeing. At R4366 the dividend yield is meaningful if they can maintain payouts, but I'd want to see revenue growth accelerate before getting to
SUR's 4.48% pullback to R4202 is worth examining through the lens of same-store sales momentum and operating leverage, particularly given the QSR sector's sensitivity to consumer discretionary spending in the current macro environment.
SUR's 2.10% pop to R4288 reminds me of the casual dining recovery we saw post-2009 when Taste Holdings and Spur both benefited from pent-up demand, though the current backdrop is decidedly different with consumer real incomes under pressure. What separates Spur from peers like Di