Balwin Properties has withdrawn the trading statement it issued on Thursday, saying it made a mistake.
The company issued a new trading update on Friday, showing that it expects a bigger increase in its earnings.
On the initial trading update, the property developer advised shareholders that it expects consolidated earnings per share and earnings per share for the six months ended 31 August 2021 to increase by between 24 and 25 cents per share.
Now, the company expects consolidated earnings per share and headline earnings per share for the first half to increase by between 40% and 45%.
Balwin said it sold and recognised revenue of sold approximately 1 260 apartments in the six months to end-August. It sold about 2 000 more apartments after August.
Balwin said it experienced a positive recovery during that period. Its operational activity has steadily recovered to pre-Covid-19 levels as people buy properties again.
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