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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