Profit takes a huge knock, but rights issue has stabilised finances and projects elsewhere in Africa are kicking in PPC says it attained several key milestones in the year to March 2017, including a R4bn rights offer, which "stabilised" its capital structure. However, the cement producer endured a "challenging" financial year. Gearing fell to "more sustainable levels" following the offer, but PPC posted a comprehensive loss of R523m in the period. Much of this was from servicing debt for its rest-of-Africa cement projects.
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