PPC financial results to be delayed by two months

Dually-listed cement manufacturer, Pretoria Portland Cement (PPC) Limited has announced that their audited financial results for the full year ended March 31, 2020, which were due on June 30, will be further delayed by two more months.

The Johannesburg Stock Exchange (JSE)-listed concern, operating in the country as PPC-Zimbabwe is also listed on the local bourse – Zimbabwe Stock Exchange – with cement plants in Bulawayo, Colleen Bawn and Harare.

In a notice this week PPC, primarily a South African company, said they would take advantage of the extension for publication of annual financial results issued by the Financial Services Conduct Authority (“FSCA”) and communicated by the JSE on 3 April 2020.

“The Company’s financial year-end was 31 March 2020,” said PPC.

“Accordingly, in the normal course, the company would have been required to release its audited year-end financial results on Stock Exchange News Service (“SENS”) as well as publishing its financial statements (“AFS”) on the company’s website, by no later than 30 June 2020, and to distribute its AFS together with the notice of annual general meeting (“AGM”) to shareholders by no later than 31 July 2020.”

The company said it was still in the process of finalising its results for the year-ended 31 March 2020.

“Due to the restrictions placed on the group as a consequence of the COVID-19 pandemic and resultant lockdowns in the regions that the company operates in as well as the consequential impact on the financial results and disclosures arising from the COVID 19 pandemic, PPC shareholders are advised that the company will be relying on the two month extension granted by the FSCA, and will release its audited year-end financial results on SENS and publication of the company’s AFS on the company’s website, by no later than 31 August 2020.

The company added: “Consequently, the AFS and the notice of AGM will be distributed to shareholders by no later than 30 September 2020.”  

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