PPC’s share price surged 16% on Wednesday as investors looked past the prospect of a dilutive rights offer to focus on the cementmaker’s double-digit cement volume growth in the four months to end-September and its efforts to boost cash with cost cuts.
The R900m company, groaning under a R5.8bn debt load, said cement volume sales were probably more than 25% higher than in the matching period in 2019 as a resumption in construction activity spurred demand.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
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