CGR
CGR
CGR - Calgro M3 - Trading Update
CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2004/030045/06)
Share code: CGR ISIN: ZAE000109203
("Calgro M3" or "the company")
Trading Update
In accordance with paragraph 3.4 of the Listings Requirements of the JSE
Limited, a listed company is required to publish a trading statement as soon
as it becomes aware, with a reasonable degree of certainty, that the
financial results for the next period to be reported on are likely to vary by
more than 20% from the previous corresponding period.
Calgro M3 wishes to advise shareholders that the company`s earnings per share
("EPS") for the financial year ended 28 February 2009 ("the 2009 financial
year") is expected to be between 55% and 65% lower than those reported for in
the previous corresponding period. EPS for the 2009 financial year is also
expected to be between 73% and 83% lower than the forecast EPS as set out in
the listing prospectus issued on 8 November 2007. Headline earnings per share
("HEPS") for the 2009 financial year is expected to be between 33% and 43%
lower than that reported for in the previous corresponding period.
Accordingly, HEPS for the 2009 financial year is also expected to be between
60% and 70% lower than the forecast HEPS as set out in the listing prospectus
issued on 8 November 2007.
Adverse market conditions which has resulted in a change of lending criteria
by banks for end users, negatively impacting the building industry as well
as a time delay on both the Pennyville and Fleurhof projects, have resulted
in a substantial slowing in turnover and a tightening of margins in the
affordable housing sector since the second quarter of 2008.
The financial information on which this trading statement is based has not
been reviewed or reported on by the company`s auditors.
Johannesburg
31 March 2009
Designated Adviser
PSG Capital (Pty) Limited
Date: 31/03/2009 07:10:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
