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Calgro M3 reverses loss

Feb 16 2011 11:43 I-Net Bridge

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Johannesburg - Property developer Calgro M3 Holdings [JSE:CGR] said on Wednesday that it expected improvement of more than 100% in the headline earnings per share (Heps) for the year ended February 2011, compared with the headline loss per share recorded in the previous corresponding period.

Earnings per share (EPS) were, however, expected to fall by more 20% compared with the prior comparative period.

The company said that due to uncertainty over the number of property registrations in the deed office by the end of the financial year, it was unable to quantify the range of the decrease in EPS and the increase in the Heps with any degree of certainty.

"The company did not undertake any corporate action during the current financial year, when compared with the prior year. Once the company has obtained a reasonable degree of certainty on the actual range of the decrease in EPS and the increase in the Heps, a further trading statement will be released," Calgro said.
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