Landwey Gets First Time Issuer Rating of “BBB”, Outlook Stable

Landwey Investments Limited has been assigned a long-term rating of “BBB” with a stable outlook for 2022/2023.

On Tuesday, a statement by DataPro, the rating agency, listed considerations for the rating assigned to include the company’s revenue, profitability, capital structure, asset quality, and liquidity.

The statement signed by DataPro’s Client Services Manager, Mr. Kehinde Rasheed, said that Landwey’s revenue lines improved over the last four years (2018-2022). 

“Revenue for 2022 increased by 48 per cent compared to the prior year. Earnings for the period under review was largely drawn from the sale of landed properties.

“The company’s efficiency was reflected in its improved profit margin, return on shareholder’s equity and return on assets.”

The statement added that the positive rating assigned reflects DataPro’s opinion of LandWey’s diversified revenue source, good project experience as well as its macroeconomic environment.

“BBB” indicates a slight risk. It shows fair financial strength, operating performance, and business profile when compared to the standard established by DataPro. This company, in our opinion, can meet its ongoing obligations, but its financial strength is vulnerable to adverse economic conditions changes, ” the statement clarified.