PPC issues positive trading update as turnaround strategy continues
JSE-listed cement producer PPC has issued a positive trading update ahead of its full-year financial results in June, attributing the improvement to its ongoing turnaround strategy.
The statement indicates that earnings per share (EPS) for the full-year period could be between 63% and 81% higher, while headline earnings per share (HEPS) are expected to be between 20% and 33% higher when compared with the prior period.
PPC highlights that its US-dollar exposure in relation to the construction of RK3, at its Riebeeck plant, in the Western Cape, is fully hedged to derisk its balance sheet.
“During the current period the rand strengthened against the US dollar, and foreign exchange losses (both realised and unrealised) were incurred.
“After adjusting for these losses, the pro forma EPS is expected to be between 88% and 106% higher than the EPS reported for the prior period.
“The pro forma HEPS is expected to be between 35% and 50% higher than the HEPS reported for the prior period.”
PPC says the continued improvement in earnings reflects the consistency of its execution of the ‘Awaken the Giant’ turnaround strategy, and is driven by improved operational efficiencies, a focus on value accretive sales, and sustained cost control.
At its capital markets day in March, PPC told shareholders that its financial performance would continue to improve regardless of market conditions, which remained subdued, owing to the fact that internal rather than external factors were underpinning the earnings and margin recovery.
PPC is scheduled to release results for the year ended March 31, 2026 on June 8.
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