BALWIN PROPERTIES LIMITED - Voluntary Trading Statement

Voluntary Trading Statement

BALWIN PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2003/028851/06)
Share code: BWN
ISIN: ZAE000209532
("Balwin" or "the Company")



VOLUNTARY TRADING STATEMENT


Shareholders are advised that headline earnings per share (“HEPS”) and earnings per share (“EPS”)
for the financial year ended 29 February 2016 are expected to exceed the prior year comparative figures
within the ranges outlined in the table below. These amounts are anticipated to be in line with or exceed
Balwin’s forecast financial information as presented in the Company’s Pre-listing Statement (“PLS”)
dated 1 October 2015:

 Measure                 Increase        Anticipated          Cents per      Forecast cents      Notes
                       relative to   cents per share           share in       per share per
                     comparative                            comparative                PLS
                           period                               period

                                        (28 Feb 2016)      (28 Feb 2015)       (28 Feb 2016)

 HEPS                  47% – 55%            115 – 121                   78                115      1
 EPS                   37% – 44%            115 – 121                   84                115


Notes:

1. The percentage growth in HEPS is greater than the percentage growth in EPS due to the effect of
   the reversal of a profit on the disposal of investment property in the prior year.

Balwin’s Chief Executive Officer, Stephen Brookes, commented:

“Balwin’s strong profits have been driven by a substantial increase in the number of residential units
sold with strong demand in new and existing developments such as Greenstone Ridge and Greenstone
Crest in Johannesburg East, Kyalami Hills and The William in Johannesburg North and De Velde in
Cape Town.

Balwin's targeted focus on the middle income market in major metropolitan nodes has proven
sufficiently robust and resilient from the downturn in the broader economy and continues to see strong
demand for its product and offering.

As announced on 14 December 2015, the Company has concluded a non-binding conditional
agreement for the development of approximately 15,000 residential units in the Waterfall node, for which
strong demand is expected.

Balwin remains committed to its target dividend payout ratio as outlined in the PLS.”
                                                 

The financial results on which this trading announcement is based have not been reviewed or reported
on by Balwin`s external auditors.

Balwin`s results for the 12 months ended 29 February 2016 are scheduled to be published on or about
23 May 2016.



Johannesburg
3 March 2016

Sponsor: Investec Bank Limited

Date: 03/03/2016 08:35:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.