Balwin’s Gauteng sales plunge, with Western Cape now cash cow
Full-year profits halved as high interest rates, inflationary increases and prolonged stages of load-shedding weighed on earnings
20 May 2024 - 11:20
UPDATED 20 May 2024 - 15:59
The Western Cape has overtaken Gauteng as Balwin Properties' main revenue contributor as income from the inland province plunged nearly 50% in the year ended February.
In its annual report released alongside it annual results on Monday, the company said the business was highly interest rate sensitive and there had been no respite in borrowing costs, which were expected to start declining from the first half of 2024...
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