PPC LIMITED - Trading Statement

Trading Statement

PPC Ltd
(Incorporated in the Republic of South Africa)
(Company registration number: 1892/000667/06)
JSE Code: PPC
ISIN: ZAE000170049
("PPC" or the "Company" or “Group”)

TRADING STATEMENT

In terms of the Listing Requirements of the JSE Limited, companies are
required to publish a Trading Statement as soon as they become reasonably
certain that the financial results for the period to be reported on next
will differ by more than 20% from those of the previous corresponding
period. PPC is finalising its interim results for the 6 months ended 30
September 2017.

PPC group EBITDA is expected to increase by 3% - 6% compared with the
previous period, whilst net profit attributable to PPC shareholders is
expected to increase by 180% - 200%. Group EBITDA has been negatively
impacted by costs related to corporate action, legal costs and exchange
rate fluctuations. Excluding these impacts EBITDA would have risen by a
further 5% - 10%.

The Group net debt levels have remained in-line with that reported in the
operating update announcement of 26 September 2017 and the group remains
adequately capitalised to meet its debt repayment obligations. Furthermore,
debt re-structuring negotiations with the funders both in respect of RSA
debt and the DRC funding agreements are progressing well. Furthermore, the
group’s ability to generate strong cash flows is evidenced by cash and cash
equivalents rising by between 50 – 60% on the prior comparable period.

Basic earnings per share are expected to rise by between 45% and 60%
(between 19 cents and 21 cents) and headline earnings per share are
expected to rise by between 30% and 40% (between 18 cents and 20 cents) for
the six months ended 30 September 2017, compared to the previously reported
comparable period 30 September 2016.

Summary of earnings:

Earnings in cents       6 months ended     6 months ended      % change
                          Sept 2017           Sept 2016
Basic EPS                   19 - 21               13           45% – 60%
Basic HEPS                  18 - 20               14           30% - 40%
WANS (millions)              1,510               758

The key aspects to the improved profitability performance relate to:

 i) EBITDA growth from the Rest of Africa cement business segment due to
    robust growth in Rwanda and Zimbabwe; and
 ii) A significant reduction in finance costs mainly due to re-
    capitalisation and once-off liquidity and guarantee facility agreement
    (LAGFA) fees incurred in the previous reporting period.


The information in this trading statement has not been reviewed or reported
on by the Company’s external auditors.

PPC will release its interim results for the period ended 30 September 2017
on 23 November 2017.

7 November 2017

Sponsor
Merrill Lynch South Africa (Pty) Limited

PPC:
Anashrin Pillay
Head Investor Relations
Tel: +27 (0) 11 386 9000

Siobhan McCarthy
Group Manager Corporate Affairs
Tel: +27 (0) 11 386 9000

Financial Communications Advisor:
Instinctif Partners
Gift Dlamini
Mobile: +27 (0) 71 605 4294
Louise.Fortuin@instinctif.com

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