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PPC - Pretoria Portland Cement Company Limited - Trading update for the period ended 31 December 2010 - AGM 31 January 2011 Pretoria Portland Cement Company Limited (Incorporated in the Republic of South Africa) (Company registration number: 1892/000667/06) JSE Code: PPC ISIN: ZAE000125886 ("PPC" or "the Company") TRADING UPDATE FOR THE PERIOD ENDED 31 DECEMBER 2010 - AGM 31 JANUARY 2011 South African cement sales declined 5% for the quarter ending December 2010. PPC`s cement sales followed this trend in most provinces with sales to the construction sector experiencing the greatest decline. On a provincial level, demand in the Western and Eastern Cape continued to be the most disappointing. Cement demand in Botswana remained resilient and sales from our Zimbabwean operations continued to grow. However, a strong local currency constrained exports from our South African factories to Mozambique and Angola. Weaker demand from the local steel and alloys industries resulted in lime sales declining compared to the comparable period last year whilst Aggregate sales declined in line with considerably lower activity in the construction industry. The more subdued trading conditions that prevailed during the second half of the 2010 financial year in comparison to the first half of the 2010 financial year prevailed throughout the quarter ending 31 December 2010. The resultant lower sales across all divisions have had a negative impact on operating margins. PPC continues to explore further opportunities in new and existing markets in sub-Saharan Africa. The nature of this activity tends to have long lead times. None of the opportunities have yet advanced to a stage where announcements can be made. We remain concerned over the outlook for the local building and construction industries in the short term and expect that demand for cement is likely to remain subdued. PPC will continue to focus on managing its operational performance and efficiencies. Our longer-term business outlook remains positive, reinforced by the South African government`s continued commitment to infrastructure development and job creation and the expected recovery in residential building activity in due course. Any forecast financial information included in this Trading Update has not been reviewed and reported on by the Company`s auditors in accordance with section 8.40(a) of the Listings requirements of the JSE Limited. 31 January 2011 BL Sibiya Chairman of the Board Sponsor Merrill Lynch South Africa (Pty) Limited Date: 31/01/2011 12:15:01 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.
