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PPC
PPC
PPC - Pretoria Portland Cement Company - Trading Update - Chairman`s
Statement At The AGM - 28 January 2008
PRETORIA PORTLAND CEMENT COMPANY LIMITED
(Incorporated in the Republic of South Africa)
(Company registration number 1892/000667/06)
JSE code: PPC
ISIN code: ZAE000096475
TRADING UPDATE - Chairman`s statement at the AGM - 28 January 2008
Trading update
Overall our results are in line with our expectations, and as stated in the
Chairman`s Report, we continue to look forward to a year of improved earnings
and continued strong cash flows.
Although cement demand slowed during the first quarter, we still expect regional
demand to reflect positive growth for the current year, albeit it at a lower
rate than in prior years. This follows a number of years of double-digit growth
which has increased total cement demand to over 15 million tons per annum.
A combination of heavy rains, both in the summer rainfall area and un-
seasonally in the Eastern and Southern Cape and a number of construction
companies closing earlier than anticipated for the annual shut-down, resulted in
industry sales for December in particular, being 1,5% lower than the prior year
on a sales per day basis.
The implications of the recent power generation problems are cause for concern.
However, at this stage we are not in a position to quantify the potential
negative impact on the business.
The "Batsweledi" expansion project at Dwaalboom is nearing completion with hot-
commissioning of the plant on track for April/May 2008. Commissioning of
completed sections of the plant has already commenced and the project remains
within budgeted cost. The Hercules mill project is progressing according to
plan. Environmental and other regulatory approvals required for the Riebeeck
West cement expansion project in the Western Cape are in progress. To allow the
community more time to review the draft Environmental Impact Report, PPC has
extended the deadline for public comment to mid March 2008.
Lime and aggregate operations reflected improved profitability in line with our
expectations.
Finalisation of the BEE transaction is progressing well with all parties
currently completing their review of the many and complex matters involved. A
target of end March 2008 has been set for distributing the circular to
shareholders.
MJ Shaw
Chairman
Sandton
28 January 2008
Sponsor:
JP Morgan Equities Limited
Date: 28/01/2008 12:39:01 Produced by the JSE SENS Department.
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