Johannesburg- Balwin, one of South Africa’s largest property companies has reported an increase of more than 40% in profits for the six months ended August.
The company today alerted investors that its profits rose 44% to R117 million in the period under review.
This is as the company reported a 41% surge in revenues to R1.3 billion in the period.
The company in a statement said: “Balwin’s results for the six-month period ended 31 August 2021 reflect a pleasing recovery from the challenging market conditions experienced in the prior period owing to the Covid-19 pandemic.
Operational activity has steadily recovered to pre Covid-19 levels, supported by the sustained demand for apartments.”
Balwin’s portfolio comprises over 70 developments. Currently, it is developing in Gauteng, Western Cape, and KZN.
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