Balwin Properties now expects a bigger increase in profits as it corrects trading statement

accreditation
0:00
play article
Subscribers can listen to this article
Balwin Properties issued a new trading update on Friday, showing that it expects a bigger increase in its earnings.
Balwin Properties issued a new trading update on Friday, showing that it expects a bigger increase in its earnings.
Supplied

Balwin Properties has withdrawn the trading statement it issued on Thursday, saying it made a mistake.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.

Get the biggest business stories emailed to you every weekday.

Go to the Fin24 front page.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
15.96
+1.2%
Rand - Pound
19.91
-0.0%
Rand - Euro
16.81
+0.3%
Rand - Aus dollar
11.17
+0.7%
Rand - Yen
0.12
+1.4%
Gold
1,819.66
-0.2%
Silver
21.65
+0.1%
Palladium
2,069.50
+2.1%
Platinum
960.00
+1.4%
Brent Crude
114.24
+2.6%
Top 40
62,976
+0.8%
All Share
69,649
+0.6%
Resource 10
72,776
+1.3%
Industrial 25
77,685
+0.8%
Financial 15
15,895
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot