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May 12, 2009
PPC Says First-Half Profit Falls 85% After Share Sale
May 12 (Bloomberg) -- Pretoria Portland Cement Co., Africa's biggest manufacturer of the building material, said first-half profit fell 85 percent after the company expensed costs associated with a share sale to black investors.
Net income fell to 103 million rand ($12.2 million), or 21 cents a share, from 674 million rand, or 1.26 rand a share, a year earlier the company said in a stock exchange statement today. Sales rose 12 percent to 3.3 billion rand.
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Posted by StaffWriter at May 12, 2009 9:45 AM