Balwin Properties – the JSE-listed developer of large-scale, sectional title estates like Munyaka Waterfall, Paardevlei and Ballito Hills – has upped its profitability levels for the financial year ended 28 February 2023. Despite fewer apartment sales and spiking interest rates over the period, the group reported a 21% increase in headline earnings per share, to 91.49 cents.
Read: Top landlords ditching Gauteng for Western Cape where ‘returns are better’ “The past 12 months were tough with increased construction costs, whilst interest rates and higher levels of load shedding impacting consumer confidence,” commented Balwin CEO Steve Brookes. “Our relentless focus on cost containment, innovative design efficiencies and careful price adjustments to offset increased costs enabled us to show positive growth of 6% in revenue to R3.