JSE-listed cement and construction materials company PPC has started working on the second phase of its turnaround strategy, with the benefits of its first phase evident in its results for the six months to September 30. Despite revenue declining by 4.2% to R5.06-billion, from R5.28-billion in the comparable half-year period in its prior financial year, the company increased its earnings before interest, taxes, depreciation and amortisation (Ebitda) margin to 15.7%.