PPC says slower domestic economic growth hurting volumes

South Africa's largest cement producer, PPC, has said slower domestic economic growth and declining infrastructure spending has resulted in a "particularly tough" domestic market.

“Low single-digit” volume declines across Africa’s second-biggest economy were partly offset by higher selling prices in the 10 months through July, the company said today in a statement.

PPC is expanding in new African countries as it targets 40 per cent of sales outside its domestic market by 2017, compared with 26 per cent in the six months through March.

Construction projects are underway in four countries: Rwanda, the Democratic Republic of the Congo, Zimbabwe and Ethiopia. Its 0.6Mta plant in Rwanda is due for commissioning early next year, the company said.