Heard on Johannesburg radio

Heard on Johannesburg radio
Published: 17 August 2005

South African cement sales rose by 11.1 per cent year on year in July 2005 - for the third consecutive month it was over a million tons, I think it was 1.016-million. That obviously bodes well for companies like PPC and Barloworld. I see PPC was up two per cent today - outperforming the market quite substantially. That share is now almost R255. Yes, we do like PPC - it’s obviously a nice dividend play as well, it pays out a nice dividend yield. Over the last couple of years it’s paid out some special dividends - clearly it’s taking advantage of the construction boom that we’re seeing. Obviously the other way of getting in is through Aveng - they’re also involved on the cement side - but we as a house prefer PPC.  Obviously Murray & Roberts is the other one, but we certainly prefer PPC - it’s a pure cement play, a great dividend yield, and a performing stock.