BALWIN PROPERTIES LIMITED - Group results for the year ended 29 February 2020

Group results for the year ended 29 February 2020

Balwin Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number:2003/028851/06)
Share code: BWN
ISIN: ZAE000209532
("Balwin" or "the group")


Group results for the year ended 29 February 2020
 

Balwin is a specialist, national residential property developer of large-scale sectional title estates with a focus
on high quality, affordable apartments with an innovative lifestyle offering for clients.

FINANCIAL HIGHLIGHTS

Revenue                          Up      11% to R2 914 million

Profit for the year             Down     9% to R411 million

Earnings per share              Down     8% to 88 cents per share

Headline earnings per share     Down     8% to 88 cents per share

Net asset value per share        Up      11% to 631 cents per share


SHORT-FORM ANNOUNCEMENT

This short-form announcement is the responsibility of the Board of Directors of Balwin. It contains only a
summary of the information in the full announcement ("full announcement") and does not contain full or
complete details. The full announcement can be found at:

https://senspdf.jse.co.za/documents/2020/jse/isse/BWNE/YE20.pdf 

Copies of the full announcement are also available for viewing on the group's website at
https://www.balwin.co.za/investor-relations/results-reports-webcasts/financial-results/full-year-results/ 
or may be requested in person, at the group's registered office or the office of the sponsor, Investec Bank Limited,
100 Grayston Drive, Sandown, at no charge, during office hours.  

Deloitte & Touche expressed an unmodified audit opinion on the audited consolidated financial statements in their 
report dated 18 May 2020. The report also includes communication of key audit matters. Key audit matters are those
matters that, in their professional judgement, were of most significance in their audit of the consolidated financial 
statements of the current period. The full report is available on 
https://www.balwin.co.za/investor-relations/results-reports-webcasts/financial-reports/integrated-annual-reports/

Any investment decisions by investors and/or shareholders should be based on consideration of the full
announcement, as a whole.

DIVIDEND

Following careful consideration of current market conditions and driven by the uncertainty surrounding the
continued impact of Covid-19 and its implications on the cash resources of the business, together with the
Board's focus on cash management and preservation, the board has decided to defer the declaration of
dividend for the period. A dividend of 14.51 cents per share was declared in the prior corresponding period.

The Board will reconsider the declaration of the dividend once there is greater certainty with respect to the
implications of Covid-19 on the business.

The financial information contained in this publication has not been audited or reported on by the
company's external auditors.

18 May 2020
Sponsor
Investec Bank Limited



Date: 18-05-2020 07:30:00
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