Cement prices are too low, warns PPC chief

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

South Africa Headlines News

CEO Roland van Wijnen says cement prices do not support profitability

BL PREMIUMThe new CEO of the country’s largest cement producer PPC says cement prices across the industry are too low and has hinted at further price increases by the firm despite falling sales in SA and Zimbabwe.

Speaking after the release of results for the six months to September, which showed a more than 70% slump in PPC’s headline earnings, CEO Roland van Wijnen said: “The current business of the cement industry — not just PPC — is not at sustainable levels, from a financial perspective. Simply, the profitability is too low given the assets that have been invested. How do you fix that? Increase the price”.


Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

CPI drops to its lowest level in eight yearsThe consumer price inflation has come in at its lowest level in eight years, at an annual 3.7% as measured in October, down from 4.1% in September, according to Statistics South Africa.
Source: mailandguardian - 🏆 2. / 92 Read more »

Inflation slides to lowest level in eight yearsThe last time it hit levels this low was in February 2011, according to Stats SA, with falling fuel prices being a key driver of the slow down
Source: BDliveSA - 🏆 12. / 63 Read more »

PPC’s earnings slump amid Zimbabwean hyperinflationGroup revenue declines 12% in the cement maker's six months to end-September
Source: BDliveSA - 🏆 12. / 63 Read more »

Drop in Eskom infrastructure spend and Zambia changes hit ReunertStrong export performance to the US and Australia of its low-voltage products counteracted decline
Source: BDliveSA - 🏆 12. / 63 Read more »

Omnia shares soar on higher earnings forecastThe stock’s price has been down 48.7% since the beginning of 2019
Source: BDliveSA - 🏆 12. / 63 Read more »

Oil dips as investors fret about lack of progress in trade talksRise in US inventories adds to jitters as prices fall for second straight day
Source: BDliveSA - 🏆 12. / 63 Read more »