Calgro M3 (CGR) H2 2026 earnings summary

Executive summary

• Focused on balancing Residential Property Development and expanding Memorial Parks footprint while disposing of non-core assets.

• Enhanced staff expertise through strategic skills development and specialist appointments.

• Maintained dividend payout and continued share buybacks.

Financial highlights

• Revenue increased to R893.2m (2025: R868.9m), with gross profit margin at 27.2% (2025: 29.4%).

• HEPS decreased to 156.76 cps (2025: 171.36 cps); NAV rose 12% to R14.86/share.

• Net debt to equity increased to 0.74 (2025: 0.65); ROIC at 4% (2025: 5%).

• Dividend declared at 8.63703 cps, unchanged from prior year.

• Cash and cash equivalents at year-end R183.7m (2025: R154.7m).

Outlook and guidance

• Strong demand for affordable housing and premium burial spaces expected to continue.

• Focus on infrastructure rollout, non-core asset disposal, and expansion of Memorial Parks.

• Positive but measured outlook amid macroeconomic and political uncertainties.