November 7, 2017 / 6:18 AM / 2 months ago

South Africa's PPC flags up to 40 percent jump in H1 profit

JOHANNESBURG, Nov 7 (Reuters) - South African cement maker PPC Ltd flagged as much as 40 percent increase in half-year profit on Tuesday, citing robust performance in Zimbabwe and Rwanda and lower finance costs.

PPC, the subject of tie-up approaches from local rival Afrisam and Sweden’s LafargeHolcim, said headline earnings per share likely rose by between 30 and 40 percent in the six months ended September.

Headline EPS, the widely used performance measure in South Africa, strips out certain one-off items. (Reporting by Tiisetso Motsoeneng; Editing by Olivia Kumwenda-Mtambo)

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