Cement producer PPC’s shares slumped more than a fifth in early trade on Thursday after the company said interim earnings could fall more than 80% because of low demand for its products in SA and shortage of foreign currency in Zimbabwe.
The company’s disappointing performance comes amid a surge in imports, lack of infrastructure investment, mooted price increases in Southern Africa and weak consumer demand. PPC owns 70% of PPC Zimbabwe, which includes a clinker manufacturing operation at Collen Bawn and two milling plans in Bulawayo.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Intu loses fifth of its market valueUK mall owner in R2bn wipe-out after issuing warning of slowing rental income growth
Source: BDliveSA - 🏆 12. / 63 Read more »
Dis-Chem gains market share as store rollout continuesGroup revenue grew 13.2% during its six months to end-August, boosted by new outlets and its acquisition of a wholesaler
Source: BDliveSA - 🏆 12. / 63 Read more »