Calgro M3 shares leap after flagging profit surge
Shares rise as much as 11% after Calgro says it will book a more than R140m profit in 2022
09 May 2022 - 11:54
UPDATED 09 May 2022 - 18:24
Shares of property developer Calgro M3 had their best day in more than a month on Monday, after it flagged about a ninefold rise in profit for its year to end-February, a clear sign of robust demand for low-income housing in SA.
Headline earnings per share will be between 104.87c and 106.39c in the year to end-February, the group said in a trading update, an up to 801.3% improvement from the prior period’s loss of 15.7c...
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