by Rowan Goeller | Aug 25, 2021 | Construction and Basic Materials
June 2021 Key message: June imports fell and the July/August levels are likely to fall substantially due to the looting and disruptions around the port of Durban. June 2021 saw imports of 57 958 tons.The 12-month rolling annual import level is 1.255m tons, up 43% on...
by Rowan Goeller | Jul 22, 2021 | Construction and Basic Materials
Key message: We update our earnings to remove the impact of the TBC deal (turned down by Competition Commission) and recent trading conditions, including the impact of the recent unrest on Cashbuild and the 4Q Operational Update. On 28 May 2021, the Competition...
by Rowan Goeller | Jul 15, 2021 | Construction and Basic Materials
May 2021 Key message: We initiate a Cement Import Monitor to track imports by port and country of origin. We initiate a Cement Import Monitor to track imports by port and country of origin.May 2021 saw imports of 95 614 tons.The 12-month rolling annual import level is...
by Rowan Goeller | Jun 25, 2021 | Construction and Basic Materials
Key message: FY22 will be a normal year and should reflect the real operational performance. While cement volumes will probably stabilise at 2H FY21 levels, average prices (up 3-4%) and volumes (up 10-12%) in FY22 should drive good earnings growth. PPC released FY21...
by Rowan Goeller | Jun 10, 2021 | Construction and Basic Materials
Key message: FY21 will be a messy result, but underlying cement operations are experiencing strong demand with price increases holding. Expect margin guidance of +20% in the SA cement business. PPC released a trading update for FY21. Group EPS is expected to be...
