PPC sees EBITDA rise 15% in 1H20

South Africa-based PPC has seen its group revenue edge up one per cent to ZAR5.01bn (US$331.1m) in the half-year period ending 30 September 2020, compared to ZAR4.95bn in the 1H19. The rise has been attributed to robust cement sales after COVID-19 restrictions were eased.

Group EBITDA increased 15 per cent YoY to ZAR996m from ZAR868m, with an EBITDA margin of 19.9 per cent. Operating profit also rose 77 per cent to ZAR610m against ZAR344m in the year-ago period. However, profit after tax fell 34.3 per cent YoY to ZAR274m in the 1H20.

"After a difficult start to the financial year as a result of the COVID-19-related trading restrictions across the jurisdictions in which we operate, I am pleased that we are once again able to serve our customers and play our part in keeping the economy going. My gratitude goes to my colleagues who have been working diligently to keep our operations running while observing stringent health and safety protocols. Our business has benefited from a strong recovery in cement sales in all our markets, post the easing of the lockdown restrictions, and this has resulted in an improved financial performance for the group," said Roland van Wijnen, CEO.