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Calgro operating profit up 147%

Oct 11 2012 18:09 I-Net Bridge

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Johannesburg - Property group Calgro M3 Holdings [JSE:CGR] on Thursday reported an 85.7% surge in its headline earnings per share (HEPS) in the six months to August to 31.63 cents‚ compared with the same period a year ago.

A strong project pipeline in excess of R8bn‚ supported by a healthy relationships with clients‚ financiers and suppliers again enabled the group to deliver top and bottom line growth‚ the company said in a statement.

Revenue was up 91.7% to R400.7m‚ while operating profit lifted 147.3% to R42.5m. No interim dividend was declared.

Calgro said the government’s undertaking to close the gap between fully subsidised housing and the entry level affordable bonded market by providing social housing and the newly revised FLISP (finance linked individual subsidy programme) units was creating new opportunities.
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