Affordable housing developer Calgro M3 says a reduction in its hefty debt load as well as asset sales helped underpin a “dramatic” second-half recovery in its year to end-February.

Calgro, which builds lower-income residential housing and develops and manages memorial parks, expects earnings per share to more than triple to as much as 15.3c, or a profit of about R20m, in its year to end-February. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now