Cement News tagged under: South Africa
PPC01 December 2016, Published under Cement NewsImproved cement sales in South Africa and growing volumes in Rwanda resulted in PPC reporting a 13 per cent increase in group cement sales in the six months ending 30 September 2016, compared to the previous six months. Revenue for the period came in at ZAR5.2bn (US$370m), compared to ZAR4.6bn in the six months ending 31 March 2016, representing an increase of 15 per cent. Revenue in the lime business advanced by six per cent while the company’s aggregates and ready-mixed operations recorded... |
Consolidation needed in South African market claims PPC chief18 November 2016, Published under Cement NewsDarryll Castle, chief executive of PPC, has said that he believes there are too many cement companies operating in South Africa, adding that necessary consolidation would leave his firm in a stronger position, the Zimbabwe Herald reports. Mr Castle told the newspaper that PPC was “keeping and eye on the whole industry” and refused to comment on claims that merger talks had been reopened between his firm and the AfriSam Group. “In the longer term, there’s no doubt that there needs to be... |
South Africa: PPC's 1H profits fall 66%16 November 2016, Published under Cement NewsPPC Ltd reported a 66 per cent decline in half-year profit, hit by higher finance costs. PPC said headline earnings per share (EPS) totalled 14 cents in the six months to end-September, compared with 41 cents a year earlier. Group cement sales volumes increased by 13 per cent, reflecting the impact of double-digit volume growth in the coastal regions. Group debt reduced to ZAR5.9bn (US$4.17bn) from ZAR9.2bn a year earlier following the receipt of proceeds from a rights issue. In Sept... |
PPC27 September 2016, Published under Cement NewsAt a presentation at the RMB Morgan Stanley Big Five conference in Cape Town on 26 September, PPC outlined how despite group cement sales volumes advancing by seven per cent in the first five months of FY2017, significant pressure on selling prices in the inland region saw prices fall by five per cent in the South African cement business. As a result, overall margins are under pressure despite good cost control and exchange rate gains, according to PPC. Over the same period, Rwanda saw vo... |
Zimbabwe: PPC's Harare plant to create growth opportunities15 September 2016, Published under Cement NewsPretoria Portland Cement (PPC) Zimbabwe says its new US$75m Harare plant wil be commissioned at year-end. PPC Zimbabwe Managing Director, Kelibone Masiyane, told NewsDay all was set for the biggest project to roar into life by the end of the year. The new facility will produce 0.68Mta of cement. "The Harare Msasa project is at an advanced stage, with commissioning already in progress and plant handover is on schedule for year-end," he said. "The new plant in Harare creates opportunities f... |
India: cement industry demand raises coal imports12 September 2016, Published under Cement NewsThe demand for coal with a high calorific value, primarily from the cement sector, combined with the doubling of clean environment cess has resulted in a shift in coal imports into India. Steam coal imports have been declining in the April-June 2016 quarter due to higher output of domestic mines, but the key shift relates to the origin of the imports. While Indonesia has accounted for the majority of coal imports, in the 1Q16-17 import growth of coal sourced from this Asian country has re... |
South Africa: PPC sets terms for its US$280m rights issue12 September 2016, Published under Cement NewsPPC has set terms for its ZAR4bn (US$280m) rights issue after the deal was almost unanimously approved by shareholders at the start of August. The rights issue has been talked about by the company since December 2015. Yet it has become all the more urgent and complex since S&P downgraded the company’s credit rating from A to BB- in May. “That triggered the need for the capital increase,” a banker on the deal said. PPC is offering 1bn new shares at ZAR4/share, a discount of 55.5 per c... |
PPC increase revenue and volumes in 3QFY15-1606 September 2016, Published under Cement NewsPPC reported a nine per cent YoY rise in quarterly sales revenue, commenting that sales revenue in South Africa increased two per cent and volumes by at least nine per cent in the company's 3QFY15-16. However, revenue outside of South Africa was even stronger, growing 19 per cent as a result of significant volume growth, newly commissioned plants in Rwanda and gains made through currency translations. CEO of PPC, Daryll Castle said, “the group's revenue has improved by six per cent suppor... |
South Africa: AfriSam sees market potential for slag cements15 August 2016, Published under Cement NewsMike McDonald, manager of AfriSam’s Centre of Product Excellence, says that he expects demand for better-performing cements with a low clinker content to grow in South Africa. This is considering the proposed introduction of a carbon tax in South Africa commencing in 2017, and the 'green' building and infrastructure movements that have brought a heightened awareness of the embodied energy and carbon of building materials. AfriSam’s Centre of Product Excellence has itself developed a s... |
PPC Zimbabwe plant project on track03 August 2016, Published under Cement NewsAccording to CEO, Darryll Castle, the construction of PPC’s new plant in Zimbabwe remains on track for completion in 2016, despite riots in the country and restrictions remaining on some South African goods. The new mill, with an expected capacity of 0.7Mta, is crucial to reducing the company’s costs, Mr Castle said. "Even if the volume is not required because Zimbabwe’s economy slows, the project still makes sense from a cost-optimisation process." This project in Zimbabwe is one of four... |