South Africa’s PPC posts 9.2% sales growth, but also lower half-year net income

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 millio
May 20, 2015 Read time: 1 min

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.

Quarry Products

Related Content

November 7, 2014

South Africa’s Sephaku Holdings loses ZAR 3.74mn in half-year

South African concrete and cement company Sephaku Holdings (SepHold) posted a net loss of ZAR 3.74 million (€270,357.83/US$337,771.13) in the six months to September 2014, against the ZAR 6.26 million profit of the year-ago period.

Pre-tax profit dropped 35.6% to ZAR 10.5 million due to a ZAR 22.3 million non-cash one-off contingent consideration loss on its acquisition of Métier.

Further, the group was taxed ZAR 14.3 million. On the flip side, revenue was up 34% to ZAR 404.2 million, while operating

February 8, 2023

Cummins reports strong financial performance for 2022

Cummins is reporting strong performance for its fourth quarter and full year 2022. Revenues for the fourth quarter were US$7.8 billion. Excluding Meritor, the acquisition of which was completed on August 3, 2022, revenues was $6.6 billion, 13% higher than the same quarter in 2021. Excluding Meritor, sales in North America increased by 25%, and international revenues decreased by 1% compared to the fourth quarter of 2021. But strong demand across all global markets was offset by a market slowdown in China and Russia, where operations have been suspended indefinitely.

boombox1

Highlighted Content

boombox2