Sales in SA collapse in April, PPC says
Overall sales volumes in SA are expected to be 95% lower in April than in the previous year due to SA’s lockdown
Cement maker PPC said on Thursday that SA’s Covid-19 lockdown had resulted in a collapse in sales during April, with overall volumes expected to fall 95% year on year.
The group said during the period, only PPC Lime sold small quantities to customers deemed by the authorities to be essential providers.
PPC said it was preparing to restart operations in SA, while its businesses in Zimbabwe and Rwanda resumed production in the second half of April. Cement sales volumes in these countries are expected to be about 15%-20% of the volumes sold in April 2019, the group said.
PPC also appointed Ronel van Dijk as permanent CFO, having served in an acting capacity since November.
In morning trade on Thursday, PPC’s share price was up 3.82% to R1.36, having fallen 45.86% so far in 2020.