PPC’s latest operating update points to a stronger run for its Zimbabwe cement business, with sales volumes rising and profitability improving during the five months to 31 August 2026.

The company reported that Zimbabwe cement volumes increased 3% against the same period a year earlier, supported by demand from industrial and retail customers. PPC Zimbabwe’s EBITDA margin expanded to 34.2%, from 19.1% in the comparable period. PPC attributed the improvement to better plant reliability, greater clinker self-sufficiency and operational execution.

Operational improvements behind the numbers

PPC said its plant performance improvement plan is increasing its own clinker production, while the Collen Bawn kiln recorded strong operating performance in the first quarter of the group’s financial year. The comparison period was affected by an extended planned maintenance shutdown, so the margin increase should be read with that context in mind.

The company cautioned that planned maintenance at Collen Bawn was under way and would moderate results in the first half of FY27. PPC expects profitability to remain ahead of the prior year, but the next update will show how durable the gains are through the maintenance period.

Cash generation and investment plans

PPC Zimbabwe declared US$15 million in dividends during the five-month period, compared with US$12 million in the prior-year period, and declared a further US$10 million after August. The business remained debt-free, according to the update.

The company said work continues on a proposed new integrated plant in Zimbabwe, including engagement with Sinoma on an engineering, procurement and construction contract, mine prospecting and assessment of financing options. No final investment decision or construction timetable was provided.

The results offer a snapshot of a cement producer benefiting from demand and operational changes, while the proposed plant signals a longer-term growth ambition. PPC’s next half-year results, expected in November, should provide a fuller view of performance and the maintenance impact.

Source: PPC’s operating update for the five months ended 31 August 2026.