PPC shareholders have been informed that the company’s headline earnings are expected to be “significantly higher”.
The South African supplier has estimated the earnings to be between 96 per cent and 116 per cent higher than the previous year. It also expects earnings per share to “increase substantially” by around 417 to 436 per cent compared to the previous year.
In its release, the company pointed to its committed cost control measures. The cost controls, including administrative and operational costs, have led to operational efficiencies.
PPC chief executive Matias Cardarelli said that the increase was due to the execution of the company’s plan.
“Our ‘Awaken the Giant’ strategy is driving significant change across PPC, with clear benefits emerging,” he said.
“This is a remarkable achievement, in a relatively short timeframe, which is already delivering enhanced stakeholder value through an improved operating and financial performance.”
Earlier this year, PPC announced plans to build a new cement plant in South Africa. This announcement included signing a memorandum of agreement with Sinoma Overseas Development Company.
“South Africa’s cement industry is undergoing rapid change, and we are working on building a stronger and more efficient PPC to entrench our leadership position in the industry,” Cardarelli said at the time.
“Investing in this state-of-the art technology is a key pillar of our “Awaken the Giant” strategy to be able to supply our customers with lower-carbon cement at a more competitive cost, and to deliver value to shareholders.”
