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Pre-Closed Period Operational Update For The Period Ending 31 August 2021 And Trading Statement
CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2005/027663/06)
JSE Share code: CGR
ISIN: ZAE000109203
(“the Company” or “the Group”)
PRE-CLOSED PERIOD OPERATIONAL UPDATE FOR THE PERIOD ENDING 31 AUGUST
2021 AND TRADING STATEMENT
In terms of the JSE Limited Listings Requirements (“JSE Listings Requirements”), a listed
company is required to publish a trading statement as soon as it is satisfied, with a reasonable
degree of certainty, that the financial results for the next period to be reported on will differ by
20% or more from the financial results for the previous corresponding period.
The Company hereby advises that a reasonable degree of certainty exists that for the period
ending 31 August 2021:
- earnings per share (“EPS”) and headline earnings per share (“HEPS”) will increase by
more than 100% to a profitable position, compared to the loss per share of 30.46 cents
and headline loss per share of 26.29 cents for the period ended 31 August 2020.
A further trading statement will be issued in terms of the JSE Listings Requirements when a
reasonable degree of certainty exists as to the likely range of the expected increase in EPS
and HEPS, taking into account uncertainties relating to the final number of registrations and
handover of completed units in August 2021.
Operational performance for the period is in line with expectations communicated in May 2021
at the announcement of the 28 February 2021 year-end results. The Group has returned to
overall profitability, with the majority of the profits generated by the Property Development
business. Cash collection continues to be healthy and cash balances are strong, with the
Group continuing to be well positioned to capitalise on the markets in which it operates in.
The Property Development business has returned to profitability, with just over 5,000 units
under construction. The most recent unrest in South Africa did not impact the Group, with no
units invaded or damaged. Management attributes this to ongoing security vigilance and
harmonious community relations.
Memorial Parks continued its growth trajectory, albeit off a low base relative to the Property
Development business, with total cash generated continuing to improve. Cash generation for
the six-month period ending 31 August 2021 will exceed the total cash generation for the
twelve-month period ended 28 February 2020, demonstrating the robust growth that this
business is experiencing on the back of a targeted marketing strategy, market visibility, new
product development and a superior service quality. A new entry level product was introduced
at the Nasrec Memorial Park that is delivering an increase in the Gauteng market share.
The financial information on which this trading statement is based has not been reviewed or
reported on by the auditor of the Company. The unaudited results for the period ending 31
August 2021 are expected to be published on or about 18 October 2021.
Johannesburg
26 August 2021
Sponsor
PSG Capital
Date: 26-08-2021 12:00:00
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