Zimbabwe drives PPC's positive outlook

South Africa’s PPC has said it expects positive earnings for the six months ended 30 September, 2023. According to news service Pindula, the company has forecast a growth rate of 25.5-26.5 per cent in its headline earnings per share, compared to a headline loss of ZAR0.06 (US$0.003) during the same period last year. Its earnings per share are also predicted to advance by 21-25 per cent from a loss of ZAR0.30 per share in the same period a year earlier.

The positive outlook has been attributed to the strong performance by PPC Zimbabwe during the period under review, compared to the same period a year earlier when the Zimbabwe business had an extended kiln shutdown. PPC Zimbabwe’s decision to change its functional currency from the Zimbabwean dollar to the US dollar has also reportedly had a positive impact on the company’s financial results, adds Pindula.