PPC surges on double-digit output growth
The cement group has again restated prior year results after identifying more errors, and its 2020 results are now due in early October
30 September 2020 - 11:05
UPDATED 01 October 2020 - 18:55
PPC’s share price surged 16% on Wednesday as investors looked past the prospect of a dilutive rights offer to focus on the cementmaker’s double-digit cement volume growth in the four months to end-September and its efforts to boost cash with cost cuts.
The R900m company, groaning under a R5.8bn debt load, said cement volume sales were probably more than 25% higher than in the matching period in 2019 as a resumption in construction activity spurred demand. ..
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