Reuters are reporting that South African cement company PPC’s sales increased by 2% while they declined in international businesses. Pressure on selling prices has also weighed in most operating regions.
Group cement volumes are reported to be down 1% for the first five months of the financial year.
The company’s expansion strategy remains on track and sales in a recently commissioned plant in Rwanda have passed the 100 000 t mark.
All 3 remaining projects in DRC, Zimbabwe and Ethiopia are over 55% complete.
Following Gordhan’s resignation, PPC has thanked the outgoing CEO and Executive Director for his contribution to the company and appointed Bheki Sibiya as interim Executive Chairman.