PPC records weak performance from Zim business in H1

SOUTH African cement maker, PPC Limited, recorded a weak performance from its Zimbabwe subsidiary compared to other markets it operates in regionally in the six months ended September 30, 2024.

During the half year, liquidity constraints, inflationary pressures, power cuts, taxes and fees and a local currency devaluation in both the parallel and formal markets negatively affected manufacturers.

The weak performance in Zimbabwe comes despite the group reporting that the group revenue of ZAR10,05 billion recorded in its financial year ended March 31, 2024, a 20,6% increase from the prior period, was driven primarily by a strong performance in PPC Zimbabwe.

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