South Africa's PPC half-year earnings fall 40.6%

  • Reuters
  • Stock Market News
South Africa's PPC half-year earnings fall 40.6%
Credit: © Reuters.

JOHANNESBURG, Dec 8 (Reuters) - South Africa's largest cement producer PPC PPCJ.J reported a 40.6% drop in half-year earnings on Tuesday, impacted by fair value adjustments, hyperinflation accounting and mutes sales at home and in Botswana due to COVID-19 related restrictions.

The group, which has 11 cement factories in six African countries, said its headline earnings per share (HEPS) fell to 19 cents in the six months ended Sept.30, from a restated 32 cents during the same period a year earlier.

HEPS is the main profit gauge used in South Africa which strips out some one-off items.

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