SUBSIDISED HOMES
Slowdown in housing business set to hit Calgro’s earnings despite repositioning
The group released a voluntary trading statement in anticipation of its financial results due in the middle of May
Calgro M3, which develops subsidised housing with the government, has announced that its headline earnings and earnings are expected to have fallen in the year to February, given a slowdown in its housing business. The group released a voluntary trading statement in anticipation of its financial results due in the middle of May. "The integrated residential development business experienced a challenging year, which resulted in lower than expected growth," said Calgro CEO Wikus Lategan. Headline earnings per share (HEPS) for the 12 months ended February 28 were expected to be between 131.69c a share and 134.47c a share compared with 138.96c a share reported in the previous corresponding period. This equated to a decrease of between -3.23% and -5.23%. Earnings per share (EPS) for the 12 months ended February 28 are expected to be between 131.53c per share and 134.59c per share compared with 152.77c a share as reported in the corresponding period a year ago. This equated to a decrease o...
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