RBA announces interim results
2007-10-04 · General Property News
The affordable housing company RBA Holdings Limited (RBA), which recently listed on the JSE's alternative exchange (AltX), announced their interim results for the six month period ended 30 June 2007.
Financial Highlights are as follows:
- HEPS increased by 105% to 5,45 cents
- Earnings attributable to shareholders increased by 100% to R16m
- Revenue increased by 30% to R100m
- PBIT increased 197% to R24m
RBA specialises in turnkey affordable housing. The company currently has over 650 units under construction in 19 project areas. These homes range between R250k and R750k and 40sq m and 80sq m in size.
"We are very satisfied with our interim results. Strategies implemented during the past year have come to fruition with a large increase in the number of units constructed and completed. We are confident that our successful listing will increase awareness of RBA and the capital raised will enable us to procure more land for future developments," David Wentzel, CEO of RBA, said.
Over 1,000 houses are likely to be completed in 2007 and 1,200 houses are expected to be completed during 2008. More than 65% of the developments are in Johannesburg with 30% in Tshwane and 5% in Polokwane.
RBA expects that the demand in the affordable housing market will further increase in the short to medium term as the earnings potential of its client base continues to increase. This trend is expected to continue well into the future as the housing backlog, specifically in Gauteng, increases.
RBA Holdings' prospectus forecasts revenues of R235m and R306m for 31 December 2007 and 2008 respectively.
A total of R65m was raised during RBA's recent private placement, which was substantially oversubscribed.
Financial Highlights are as follows:
- HEPS increased by 105% to 5,45 cents
- Earnings attributable to shareholders increased by 100% to R16m
- Revenue increased by 30% to R100m
- PBIT increased 197% to R24m
RBA specialises in turnkey affordable housing. The company currently has over 650 units under construction in 19 project areas. These homes range between R250k and R750k and 40sq m and 80sq m in size.
"We are very satisfied with our interim results. Strategies implemented during the past year have come to fruition with a large increase in the number of units constructed and completed. We are confident that our successful listing will increase awareness of RBA and the capital raised will enable us to procure more land for future developments," David Wentzel, CEO of RBA, said.
Over 1,000 houses are likely to be completed in 2007 and 1,200 houses are expected to be completed during 2008. More than 65% of the developments are in Johannesburg with 30% in Tshwane and 5% in Polokwane.
RBA expects that the demand in the affordable housing market will further increase in the short to medium term as the earnings potential of its client base continues to increase. This trend is expected to continue well into the future as the housing backlog, specifically in Gauteng, increases.
RBA Holdings' prospectus forecasts revenues of R235m and R306m for 31 December 2007 and 2008 respectively.
A total of R65m was raised during RBA's recent private placement, which was substantially oversubscribed.
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