5 February 2018

Zimbabwe: PPC Zimbabwe Sales Up 40pct in Nine Months

HARARE, February 5 (The Source) - Regional cement manufacturer, Pretoria Portland Cement (PPC) says sales at its Zimbabwean operation increased by between 30 to 40 percent for the nine months to December 31, 2017.

In a trading update, PPC said it continues to closely monitor the liquidity situation in the country.

"Our Zimbabwe business has increased volumes significantly compared with the same time last year..Pricing, in US dollars, has marginally exceeded that of the prior year," the company said.

In 2016, PPC commissioned a $82 million plant in Harare, doubling its capacity to 1,4 million tonnes per annum in the country.

The company has two other plants in Bulawayo and Colleen Bawn near Gwanda with production capacity of 700,000 tonnes annually.

PPC has operations in South Africa, Ethiopia, Botswana, Rwanda and DRC.

Without giving figures, PPC said group revenue has shown an improvement over previous comparative period in 2016, while group earnings before interest, taxes, depreciation and amortisation (EBITDA) has also tracked ahead of the previous year.

"Whilst good operational cost management has prevailed in the period, corporate action and other costs have negatively impacted on group EBITDA," the company said.

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