Fan­tas­tic re­sults

Finweek English Edition - - MARKETPLACE -

Bal­win knocked it out of the park with its maiden re­sults, with pretty much all the num­bers go­ing the right way for share­hold­ers. On the back of these re­sults, a num­ber of peo­ple have asked me if I am con­sid­er­ing buy­ing back into the com­pany and my an­swer is no. Now maybe it is more about not want­ing to re-en­ter a stock I sold late last year, but I still have con­cerns about the broader hous­ing mar­ket. Ris­ing in­ter­est rates and in­fla­tion are adding fur­ther pres­sure on con­sumers, and I ex­pect to see an uptick in home-loan de­faults and hence fall­ing house prices. Fur­ther, I still hold some Cal­gro M3*. It’s dif­fer­ent to Bal­win in that it fo­cuses on lower LSM mar­kets, but that is likely to be the more re­silient space.

Bal­win's Am­s­ter­dam devel­op­ment in Olivedale, Jo­han­nes­burg.

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