"The effect of this positive demand has been partly offset by some product sourcing challenges experienced over the period. These were primarily due to lower than planned production output at our Dwaalboom factory. This technical issue has been resolved and normal production has been restored‚" PPC said.
While the selling environment remains challenging‚ some increases in prices were achieved in SA and Zimbabwe.
During the first quarter of PPC's 2013 financial year‚ the company took another significant step in its rest of Africa strategy with the announcement in December of the 51% acquisition of Cimerwa Limited of Rwanda for $69.4 million.
The receipt of the group's Zimbabwean indigenisation certificate in November was also an important step for this strategy.
The company added it was currently pursuing additional opportunities and expected to make further announcements during the course of this year.
PPC added that volumes in the lime division declined due to reduced off-take from the local steel industry while aggregates volumes remained under pressure due to weak demand.
In SA‚ Botswana and Zimbabwe there remains limited visibility on major infrastructure projects‚ however the group's outlook for cement demand in these three territories gives it reason to remain cautiously optimistic.
Excluding the IFRS 2 charges recorded on the Zimbabwe indigenisation programme and the implementation of the company's second BEE transaction‚ earnings for the first half of 2013 were anticipated to reflect a year-on-year improvement‚ it concluded.
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
