PPC profits seen down 30%, South Africa

PPC profits seen down 30%, South Africa
Published: 22 March 2011

Pretoria Portland Cement (PPC) said Tuesday that due to difficult trading conditions, PPC’s financial results for the six months ended March 2011 are expected to decrease by more than 30% compared to those for the six months ending March 2010.

South African cement sales continue to decline and industry figures released for the five months from October 2010 to February 2011 show a cumulative decline of 6.5%, it said.

Further guidance will be provided once the management accounts for the reporting period have been completed and reviewed, it added.

PPC will release its interim results on or about May 17.