PPC and subsidiaries record double-digit growth in July

PPC reports that its total volumes at its international subsidiaries saw double-digit growth in July compared to sales in July 2019.

"The demand is especially strong in Zimbabwe and Rwanda and the growth of sales volumes during July has been positive in the DRC as well," PPC said. "The increased sales volumes and the effect of the cost reduction and cash preservation measures have resulted in cash flows for the last months showing a positive trajectory."

Double-digit YoY growth of cement volumes in South Africa during June also continued in July. "This was achieved on the back of the strong reduction of imports. Also, the resumption of construction activities and the temporary effect of high activity in construction projects to catch up on the delivery of these projects have had a positive impact," the company said.

The company expects to announce the year-ended 31 March 2020 financial results by no later than 30 September 2020.