PPC has reported that its capital expenditure for the current fiscal year is trailing behind forecasts due to a delay in the completion of the fly ash project at its Zimbabwean unit.
The company’s capex guidance for the full year ending March 31, 2024 (FY 2024) stands at R600 million. The implementation of the fly ash project is expected to significantly boost market share and profitability for the local unit.
However, the company stated in a trading update for the 10 months ending January 31, 2024 that this is a timing issue due to a delay in accessing the power plant to complete the plant design and commercial contract.