| Mon 21 Nov 2011, 12:06 | | CGR - Calgro M3 Holdings Limited - Trading Update |
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CGR
CGR
CGR - Calgro M3 Holdings Limited - 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" or "the group")
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.
The company expects an increase of more than 175% in the earnings per
share ("EPS") for the 12 months ending 29 February 2012 ("the 2012
financial year") which amounts to more than 36.69 cents per share in
respect of the 2012 financial year, compared to the 13.34 cents per share
reported on in respect of the 12 months ended 28 February 2011 ("the 2011
financial year").
Calgro M3 also expects an improvement of more than 175% in headline
earnings per share ("HEPS") for the 2012 financial year (i.e. Calgro
expects HEPS to be more than 37.07 cents per share ), compared to the
13.48 cents per share reported on in respect of the 2011 financial year.
Due to uncertainties with regards to the number of property registrations
that will be registered in the deed office by the end of the period,
Calgro M3 is unable to quantify the range of the increase in the HEPS and
EPS with any degree of certainty.
The increase in both HEPS and EPS is due to the pipeline of work
announced on 19 April 2011. The group currently has in excess of 2,300
units under construction and are in the process of servicing in excess of
2,000 stands. The group does not construct on risk and all units under
construction have 3rd party guarantees in place. It should be noted that
not all of these units will be completed, handed over and registered
before 29 February 2012 as the majority of these sectional title multi-
story units take, on average, 6 months to construct.
The group is also proud to announce that its pipeline has grown to in
excess of R 7 billion over the next 6 to 7 years.
Once the company has obtained a reasonable degree of certainty on the
actual range of the increase in both EPS and HEPS, a further trading
statement will be released.
The financial information on which this trading statement is based has
not been reviewed or reported on by the company`s auditors.
Johannesburg
21 November 2011
Designated Adviser
Grindrod Bank Limited
Date: 21/11/2011 12:06:01 Produced by the JSE SENS Department.
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