Calgro M3 share price up by 8.6%
CAPE TOWN –
The share price of Calgro M3, which invests in Integrated residential developments, rentals and memorial parks, increased up to 8.6 percent yesterday to R4.30 in spite of headline earnings a share sliding 204.2 percent to a loss of 3.24 cents for the six months to August 31.
The share price of Calgro M3, which invests in Integrated residential developments, rentals and memorial parks, increased up to 8.6 percent yesterday to R4.30 in spite of headline earnings a share sliding 204.2 percent to a loss of 3.24 cents for the six months to August 31.
CEO Wikus Lategan said it had been a frustrating six months, but two problematic contracts had “at long last” been resolved, with construction underway, and sufficient cash resources of R445 million had been generated for group operational sustainability and to manage risks.
“We have continued to generate positive cash flow in the past 12 months, and in time the income statement will follow. We anticipate a stable, if slightly better performance in the second half,” he said in a telephone interview.
Source: iol.co.za
