Cement maker PPC sales up but profit bumped by weak SA business

Cement Maker PPC’s revenue grew 2% to R9.2-billion in the year to end-September – supported by growth in Zimbabwe and Botswana – but headline earnings a share dropped 19% to 145c owing to higher finance costs and a weak South African cement business, the company said in a statement on Wednesday. Annual revenue also included acquisitions Safika Cement and Pronto Readymix. On a like-for-like basis, revenue would have been three percent lower than last year’s R8.56-million.