Cement manufacturer PPC's share price on the JSE rose by nearly 9% on November 9, after the company reported an expected swing to earnings a share for the six months ended September 30.
The company expects to report earnings a share of 21c to 25c, compared with a loss a share of 30c reported for the six months to September 30, 2022.
Headline earnings a share are expected to be between 25.5c and 26.5c, compared with a headline loss a share of 26.5c reported for the prior comparable period.
PPC says the improvement in earnings is a result of a strong performance by PPC Zimbabwe in the six months under review, compared with the prior comparable period, which had been impacted on by an extended kiln shutdown.
The company expects to publish its results for the six months on November 20.