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PPC - Pretoria Portland Cement Company - Trading Update - Chairman`s Statement At The AGM - 28 January 2008 PRETORIA PORTLAND CEMENT COMPANY LIMITED (Incorporated in the Republic of South Africa) (Company registration number 1892/000667/06) JSE code: PPC ISIN code: ZAE000096475 TRADING UPDATE - Chairman`s statement at the AGM - 28 January 2008 Trading update Overall our results are in line with our expectations, and as stated in the Chairman`s Report, we continue to look forward to a year of improved earnings and continued strong cash flows. Although cement demand slowed during the first quarter, we still expect regional demand to reflect positive growth for the current year, albeit it at a lower rate than in prior years. This follows a number of years of double-digit growth which has increased total cement demand to over 15 million tons per annum. A combination of heavy rains, both in the summer rainfall area and un- seasonally in the Eastern and Southern Cape and a number of construction companies closing earlier than anticipated for the annual shut-down, resulted in industry sales for December in particular, being 1,5% lower than the prior year on a sales per day basis. The implications of the recent power generation problems are cause for concern. However, at this stage we are not in a position to quantify the potential negative impact on the business. The "Batsweledi" expansion project at Dwaalboom is nearing completion with hot- commissioning of the plant on track for April/May 2008. Commissioning of completed sections of the plant has already commenced and the project remains within budgeted cost. The Hercules mill project is progressing according to plan. Environmental and other regulatory approvals required for the Riebeeck West cement expansion project in the Western Cape are in progress. To allow the community more time to review the draft Environmental Impact Report, PPC has extended the deadline for public comment to mid March 2008. Lime and aggregate operations reflected improved profitability in line with our expectations. Finalisation of the BEE transaction is progressing well with all parties currently completing their review of the many and complex matters involved. A target of end March 2008 has been set for distributing the circular to shareholders. MJ Shaw Chairman Sandton 28 January 2008 Sponsor: JP Morgan Equities Limited Date: 28/01/2008 12:39:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
