JSE-listed Balwin Properties recently posted an impressive set of results for the 2023 financial year, growing revenue despite a 6% drop in unit sales. Revenue increased 6% for the year to R3.3bn, with profit after tax jumping 20% to R437m. This culminated in 21% growth in earnings per share to 91.49c. Despite macroeconomic constraints and interest rate increases during the year, the group managed to grow its gross profit margin to 29% from the previous year’s 27%. Balwin closed the financial year in a strong cash position, with R607m in cash and cash equivalents, with debt ratios well managed at a loan-to- value ratio of 40.7%. The Group declared a total dividend of 24c a share. Balwin shares are currently trading at R2.85 at around, a deep discount to the net asset value of R7.39 per share. The property developer has been designing, building, marketing and selling sectional title residential apartments since its establishment in 1996, and has completed about 100 developments. A leader when it comes to sustainable developments and green buildings Balwin's building designs have received global recognition with more apartments registered for Excellence in Design for greater Efficiency (EDGE) certification than any other property developer in the World.