PPC result comment

PPC result comment
Published: 24 May 2004

Pretoria Portland Cement has set the tone for the upcoming reporting season with strong interim and full year results.  PPC was largely driven by improved infrastructural development as well as an increase in housing construction on the back of a lower interest rate environment which saw a notable growth of 13 percent in industry cement for the period under review.  The group recorded over 20 per cent growth in cement volumes in February and March 2004 over the same period last year.

Despite a 28 per cent decrease in export volumes and the strengthening of the rand, cement exports made the same contribution as last year as a result of lower costs and better international prices. PPC turnover increased significantly by 16 percent to R1.6 billion up from up from R1.4 billion in the comparative period in historical terms.

PPC’s earnings streams have grown at an average annual compound rate of 18 per cent over the past 10 years ­ testimony to the consistence of the group business model