PPC Zimbabwe reports 15-20% volume drop

PPC Zimbabwe has reported a fall of 15-20 per cent in volumes for the 11 months ended February 2020 due to the country’s economic environment, reports the Zimbabwe Mail. However, the company has recorded improved EBITDA margins of 35-38 per cent.

Inflationary pressures in the country have increased the cost of inputs as well as decreasing consumer spending. Limited access to foreign currency has also added to the challenges.

“Despite the challenging trading conditions in Zimbabwe, including liquidity constraints and inflationary pressures, PPC Zimbabwe remains self-sufficient,” said the group in a statement accompanying its operational update for the 11 months under review.

“PPC Zimbabwe achieved EBITDA margins of 35 percent to 38 percent. PPC Zimbabwe has continued to meet its debt obligations in the country,” said the group.