Southern Africa cement business shows signs of stabilising, PPC says
In a trading update the cement maker said its capital expenditure should be at the lower end of recent guidance
Cement-maker PPC said lower levels of capital expenditure has helped offset lower earnings during the 11 months to end-February, with its Southern African business starting to show signs of stabilisation even as it continues to face price pressures from increasing exports.
The SA coastal business is experiencing a downturn in volumes affected by imports, while inland volumes are showing signs of improvement, the group said in a trading update. It has experienced average price increases of 8%-10% across the region...