JSE-listed Balwin Properties expects to report a 23% to 28% year-on-year decrease in headline earnings a share and a 23.21% to 28.19% year-on-year decrease in earnings a share for the year ended February 28.       Balwin said in a trading statement on Wednesday that it has experienced delays in obtaining town planning and local authority approvals for the start of construction on certain new developments around the country.

JSE-listed Aveng, which posted a headline loss of R335-million for the half year ended December 31, on Tuesday outlined details of the outcome of its strategic review, which involved a very “thorough and robust interrogation” of all parts of the business. The review was aimed at  identifying the businesses and assets that are core to the group and which support its overall long-term strategy, determining the most appropriate operating structure, as well as identifying a sustainable future capital and funding model.

JSE-listed MAS Real Estate increased its distributable earnings by 98% year-on-year to €17.1-million for the six months ended December 31.   “The improvement in distributable earnings was driven by the full period effect of accretive acquisitions, the completion of developments and the deployment of capital into property development company PKM Developments,” CEO Morné Wilken said in a statement on Monday.   Further, MAS’s acquisition pipeline under due diligence, across Western Europe and Central Eastern Europe (CEE), totals more than €400-million, with substantial acquisitions to be completed within the next six to twelve months.  Meanwhile, mitigating the group’s future funding obligations in relation to PKM Developments has been a strategic priority, Wilken said.

JSE-listed construction company Basil Read’s shares on Monday rose 4.17%, after reporting that its rights offer, aimed at raising R300-million, received full support. The company issued 1.36-billion shares at 22c apiece – a discount to the 65c apiece closing share price on January 26.