PPC, South Africa's largest cement manufacturer, recorded 9.2% sales growth to US$377.91 million (ZAR 4.5 billion) in the six months to March 2015. But it wasn’t all good news for the company, as its net income dropped from $7.73 million (ZAR 494 million) to $4.29 million (ZAR 274 million), followed by another decline in earnings per share before one-time items from ZAR 0.96 to ZAR 0.60 on a year-on-year basis.
Meanwhile, PPC is planning to generate an additional profit of $6.26 million (ZAR 400 million) annually within three years. The company says this will be achieved through price adjustment, higher revenue, and business-wide cost reduction exercise.
