Lockdown and lean consumer incomes drive earnings fall at Spur
Group revenue also hit by concessions given to franchisees
Restaurant group Spur reported a cut in earnings of more than two-thirds for the interim period to December, driven by social distancing guidelines and lower consumer incomes.
Restaurants, as with other consumer-facing businesses, have seen lower sales during the Covid-19 crisis. Even as food outlets worked to offer meals through online food delivery, the effects of reduced foot traffic at physical restaurants have been felt...