PPC said on Monday its net profit attributable to shareholders in the first half will benefit from a R41-million reduction in secondary tax on companies (STC) compared to the prior year due to the lower special dividend paid in January 2006.

The cement group added that headline earnings per share to March 2006 are expected to be between 40 percent and 60 percent higher than last year.

The impact of the lower STC charge on headline earnings per share for the half year is more significant than for the full year, PPC said.

A further strengthening of operating cash flow is expected due to improved trading conditions.

Shares rose 0.78 percent to end at 335.50 rand on the JSE on Monday.

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