PPC delivers great results "despite the challenging environment we often operate in", says Tryphosa.
On Friday 19 July, PPC released its annual financial statements for the year ended 31 March 2019.
PPC CFO Tryphosa Ramano said that the group has been able to produce a solid set of results, by delivering on its strategic priorities.
The group reported headline earnings per share increased 33 percent to 20 cents, basic earnings per share up 60 percent at 16 cents, group revenue increased 1 percent to R10.4 billion, group reported EBITDA increased by 4 percent to R1.9 billion and group overheads reduced by 19 percent to R260 million.
“The group has been successful in executing on its strategic priorities, with key focus areas being financial, operational, human capital and customers. In recent years, PPC has built solid foundations on which to grow a relevant and sustainable business to keep delivering on our promises going forward.”
The results statement said that the group has been successful in executing on its FOH-FOUR strategic priorities, with key focus areas being financial, operational, human capital and customers. The group understands that addressing these priorities ir its foundation for creating long-term sustainable value for all stakeholders in future.
Tryphosa said that:
“I am proud of the PPC team including the 3,614 men and women who have given so much of themselves in a difficult and uncertain year in delivering resilient results. Despite the challenging environment we often operate in, we hold firm to the aspiration of delivering sustainable value for all stakeholders.”
PPC also stated that the operating environment in South Africa remains challenging, given weak demand and competitive pressures, however, the company is committed to achieving sustainable price increases, optimising operational efficiencies and a reduction in financial leverage. In addition, the company said that it will continue to focus on achieving its R70/tonne profitability initiatives and continue to assess opportunities to refine its network and optimise its support structure.