PPC’s CEO, Matias Cardarelli, has unveiled a two-year turnaround plan to restore the company’s profitability.
- The plan aims to create a leaner, more agile company through disciplined working capital management and improved industrial performance.
- Job losses are expected as part of the restructuring process, but Cardarelli assures it will be done in a “reasonable and cautious way”.
- The company has identified weaknesses in internal data management and is addressing them to improve decision-making.
- PPC returned to profitability in the year to end-March, with group revenue increasing 20.6% to R10.06bn.
- The company has declared a cash dividend of 13.7c per share, its first dividend payment in nearly a decade.
- Despite challenges in the South African market, PPC’s Zimbabwean operation performed well, helping to drive revenue growth.