By A Correspondent- Pretoria Portland Cement has recorded a 25 to 30% drop in cement sales In Zimbabwe for the period leading to 30 July 2019, Sunday news reports.
This was revealed in a trading update which cited the economic meltdown as the major contributing factor to the sales plummet.
PPC remains focused on optimising its local operations and implementing its cash preservation strategy to ensure the business is self-sufficient. The devaluation of the Real Time Gross Settlement (RTGS) dollar versus the US$ impacted revenue, which declined by 30-35 percent in rand. Overall cement sales volumes contracted by 25-30 percent due to a weaker economic climate,
The economic meltdown has affected many businesses, with DSTV also recording low sales but mainly due to the power outages.