• Headline loss per share to be between 1 cent and 5 cents per share
  • EPS expected to decrease between 67% and 50%

  • EPS and headline earnings from Zimbabwe impacted by hyperinflation accounting

JSE-LISTED cement producer, Pretoria Portland Cement (PPC) says it expects headline loss per share from continuing operations to be between 1 cent and 5 cents per share for the year ended 31 March 2022, compared to the 3 cents headline earnings per share for the prior period.

In a trading update, the Group which has operations in Zimbabwe through PPC Zimbabwe said headline loss per share including discontinued operations are anticipated to be between 12 cents and 15 cents per share, an increase of between 20% and 0% from the 15 cents per share loss for the prior period.

Earnings per share (EPS) for the Group including discontinued operations for the period is expected to be between 4 cents and 6 cents per share, a decrease of between 67% and 50% from the 12 cents per share for the prior-year while EPS from continuing operations is predicted to be a loss of between 3 cents and 7 cents per share, compared to the 65 cents per share profit for the prior period.

“Earnings per share (“EPS”) from continuing operations for both the period and the prior period is impacted by material movements in non-cash items, being fair value and foreign exchange movements, impairments and impairment reversals,” the Group said.

PPC added, “In addition, both EPS and headline earnings from Zimbabwe are impacted by hyperinflation accounting in terms of IAS 29.”

The Group’s earnings before interest, tax, depreciation and amortization (“EBITDA”) from continuing operations, excluding PPC Zimbabwe’s EBITDA, is projected to be between 0% and 4% lower than the prior-year comparable EBITDA.

Cash generated from continuing operations increased between 4% and 8% relative to the prior period.

Meanwhile, The Group's audited annual financial statements for the year ended 31 March 2022 are expected to be released on or about 27 June 2022.

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