Phakalane standoff slashes BHC revenues

Commenting on the published financial results for the year ended 31 March 2014, BHC Chief Executive officer, Reginald Motswaiso, said the corporation’s financial performance has been challenged by the decline of its major income sources.

He explained how sewage connection delays in the area have affected sales of houses in the area.  “The situation was worsened by high costs for construction, leading to low margins to make new properties affordable to our customers,” said Motswaiso. The corporation had sold 100 units to both foreign and local clients in Phakalane who couldn’t move into the houses because there were no water, electricity or sewerage facilities last year.