https://www.engineeringnews.co.za

Balwin expects to report lower FY18 earnings

28th February 2018

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JSE-listed Balwin Properties expects to report a 23% to 28% year-on-year decrease in headline earnings a share and a 23.21% to 28.19% year-on-year decrease in earnings a share for the year ended February 28.      

Balwin said in a trading statement on Wednesday that it has experienced delays in obtaining town planning and local authority approvals for the start of construction on certain new developments around the country.

The delays have had an impact on the development of The Whisken, in Kyalami; The Blyde, in Pretoria East; Ballito Hills, in KwaZulu-Natal; The Jade, in Somerset West; and Green Park, in Boksburg.

“Management, together with its team of professionals, have continued to engage with the local authorities to expedite the approval processes. Four of these developments have now been approved to start construction and the remaining approval is imminent,” the company said.

These delays have affected a total of 696 apartments.

Balwin’s financial results will be released on or about May 14.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 4 hours ago By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:2.391 2.506s - 137pq - 2rq
Subscribe Now