South Africa: PPC has reported a 3% fall in cement revenue to US$526m in the first nine months of 2015, although group revenue grew by 2% year-on-year to US$645m. The decline in the cement business was blamed on increased competition.
"The Mpumalanga area was the hardest hit, with double-digit volume declines. The north-west region, although also under pressure, showed some resilience," said PPC in a statement.
Company CEO Darryll Castle said that improved performance from the company's operations in Zimbabwe and Botswana had offset the declines experienced in the core South African cement business. He said that projects in Africa would ensure that shareholders had a 'diversified portfolio of businesses in different geographies.'
