Calgro M3 Holdings Projects Robust Growth in Earnings

  • Calgro M3 Holdings anticipates a 20% increase in both EPS and HEPS for the fiscal year ending February 29, 2024.
  • The surge in earnings is attributed to prudent capital allocation and operational performance across divisions.
  • Share repurchase program reduced issued ordinary shares, signaling confidence in sustained growth and shareholder value.
By Lethabo Ntsoane

Calgro M3 Holdings Limited (JSE: CGR) has issued a promising trading statement today, indicating a substantial increase in earnings for the fiscal year ending 29 February 2024.

Earnings Surge

The company forecasts a noteworthy surge in both earnings per share (EPS) and headline earnings per share (HEPS). Calgro M3 anticipates a minimum 20% rise in EPS, reaching at least 184.04 cents, compared to the previous fiscal year’s figure of 153.37 cents. Similarly, HEPS is expected to experience a minimum 20% increase, projecting at least 183.82 cents, in contrast to the prior year’s 153.18 cents.

Capital Management Strategy: The impressive growth in EPS and HEPS is attributed to the company’s prudent capital allocation strategy and commendable operational performance across its various divisions throughout the fiscal year. Notably, Calgro M3 executed a share repurchase program under the board’s general authority. This initiative resulted in a reduction of issued ordinary shares from 121,400,069 million to 95,487,126 million shares, at a total cost of R72.7 million during the current financial period.

Financial Outlook

The company’s upbeat projection underscores its confidence in sustaining growth momentum and delivering shareholder value amidst evolving market dynamics. Calgro M3 emphasizes its commitment to transparency and compliance with regulatory requirements, affirming its dedication to providing further updates on financial performance in due course.

Conclusion

Calgro M3 Holdings Limited stands poised for robust growth, driven by strategic capital management initiatives and operational excellence. Investors can anticipate further insights into the company’s financial performance in the forthcoming reports.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo