Calgro M3 flags its ‘dramatic’ second-half recovery
The group will still incur a headline loss during its year to end-February, but will make a basic profit amid asset sales and reduced debt
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. ..