PPC to report higher full-year earnings as Zimbabwe operations improve

12th June 2024

By: Darren Parker

Creamer Media Contributing Editor Online


Font size: - +

JSE-listed cement company PPC has informed shareholders that it expects to report increases in its earnings per share (EPS) and headline earnings per share (HEPS) of at least 20% year-on-year for the financial year ended March 31.

The company on June 12 attributed the expected increases in EPS and HEPS to a strong performance by PPC Zimbabwe in the financial year under review, compared with a poorer performance in the 2023 financial year on the back of an extended kiln shutdown.

In addition, in the current period, PPC Zimbabwe changed its functional currency from the Zimbabwean dollar to the US dollar, which also had a positive impact given the elimination of net monetary losses of R131-million arising in the prior period as a result of hyperinflation accounting.

Meanwhile, owing to the disposal by PPC of its 51% shareholding in Rwandan cement company Cimerwa on January 25, Cimerwa’s results for the period April 1, 2023, to January 25, 2024, will be shown as discontinued operations, the company said.

The prior period’s comparative figures have accordingly been represented to exclude Cimerwa’s results and to disclose its results separately as discontinued operations.

Group EPS are expected to be 25c to 30c, compared with a 43c loss a share in the 2023 financial year.

Group HEPS are expected to be between 27c and 18.5c, an improvement over the 9c headline loss a share in 2023.

Continuing operations EPS had been revised to an expected 4c to 8c, up from a loss a share of 21c last year, while continuing operations HEPS were now expected to come in at between 16.5c and 20c, a significant step up from the loss a share of 20c in 2023.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online



Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers


FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...


Latest Multimedia

sponsored by

Economic growth a top priority for GNU
Economic growth a top priority for GNU
19th July 2024 By: Creamer Media Reporter
Magazine round up | 19 July 2024
Magazine round up | 19 July 2024
19th July 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:3.727 3.885s - 184pq - 2rq
Subscribe Now