Africa’s biggest cement maker, Pretoria Portland Cement (PPC), said on Tuesday regional industry cement sales fell 9.7 per cent in the five months to February due to a slump in the residential housing market.
Despite the drop in sales between October 2008 and February 2009, PPC said in a presentation on its website that cement demand from infrastructure projects would boost sales beyond 2010.
South Africa has set aside ZAR787bn to build the 2010 Soccer World Cup stadia and power generation plants, including state utility Eskom’s new Medupi power station.
PPC said it had the financial strength to explore acquisition opportunities, but gave no further details.
PPC reported ZAR2.3bn in operating profit for the year to end-September.