BUSINESS DAY TV
PPC raises its prices and looks ahead with optimism
PPC CEO Darryll Castle discusses half-year results from the cement producer, which show a 66% fall in profit, but a healthier debt position
Darryll Castle is CEO of PPC BUSINESS DAY TV: PPC’s liquidity crunch this year had a profound impact on its first half headline earnings which dropped 66% for the period ended September. But stripping out the costs of raising fresh capital, headline earnings were down only 16% while revenue rose 15% and cement sales grew 13%. But gross hikes introduced by the company aren’t being well met by the market. Joining us on News Leader to discuss the numbers and the next six-month period is CEO Darryll Castle. Darryll … we saw a market comment today saying that PPC has managed to post a stable operational performance at least. Is stability on that front the most you can wish for right now? DARRYLL CASTLE: No, it’s clearly not the most we can wish for. We can always wish for better times, but the reality is we’ve got to deal with the conditions as they are and the best we can do right now is to make sure that we really are focused on the efficiency of our operations and keeping our costs un...
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