/ 24 March 2009

PPC cement sales fall 9,7%

Africa’s biggest cement maker, Pretoria Portland Cement (PPC), said on Tuesday regional industry cement sales fell 9,7% in the five months to February because of a slump in the residential housing market.

Despite the drop in sales between October 2008 and February 2009, PPC said in a presentation on its website that cement demand from infrastructure projects would boost sales beyond 2010.

South Africa has set aside R787-billion to build the 2010 Soccer World Cup stadia and power generation plants, including state utility Eskom’s new Medupi power station.

PPC said it had the financial strength to explore acquisition opportunities, but gave no further details.

PPC reported R2,3-billion in operating profit for the year to end-September. — Reuters