Mace’s latest Market View for Sub-Saharan Africa (SSA) reports that construction activity is forecast to grow across the region, despite a number of significant risk factors that threaten to limit economic growth in the region.
PPC reports that its half-year net profit fell by more than two-thirds as a result of higher finance costs and weaker currencies in African countries where it has operations.
PPC's share price plunges more than 14.5% to R4.87 as it warns shareholders at its annual general meeting that its interim headline earnings a share could fall as much as 85%.
PPC may be seeking alternative underwriters for its R4bn rights issue as the fees charged by local banks are 'prohibitively expensive'.
PPC reports pleasing expansion progress for the quarter October 2015 to December 2015, despite declining cement sales volumes.
PPC commissions its 600 000-ton cement plant in Rwanda to offset declining sales in SA as its expansion into African cement markets gather pace.
PPC’s (PPC) new plant in Rwanda was officially opened on August 18 2015‚ the cement company said in an operational update covering the first eleven months of the financial year.