PPC expects profit increase in FY18

PPC expects profit increase in FY18
18 June 2018

South Africa’s PPC expects its net profit attributable to shareholders to increase between 55-65 per cent for the financial year ended 31 March, compared with ZAR93m (US$6.9m) of the previous year. However, the group’s EBITDA from operations is expected to decline by 5-12 per cent YoY.

"Group EBITDA has been negatively impacted by costs related to corporate action, restructuring and separation costs, which were communicated previously. Excluding this impact and the fluctuation in exchange rates, group EBITDA would have increased by zero per cent to three per cent", according to a company statement.

The company also announced that it commissioned a manufacturing plant in the DRC during the 4Q17, while another plant in Ethiopia was commissioned in the 1Q18.

Published under Cement News