Kazakhstan-Based Steppe Cement Increases Revenue In First-half Despite Lowered Volumes
Kazakhstan-based Steppe Cement Ltd said Monday it saw a volume decrease in sales in the first half of 2017, but increased revenue due to a rise in prices.
Steppe Cement said it sold 650,333 tonnes of cement for 8.55 billion Tenge, or approximately GBP20.1 million, in the first half of 2017. This compares to sales of 761,777 tonnes of cement for 8.19 billion Tenge, or around GBP19.2 million, in the first half of 2016.
The company said its average price for delivered cement rose to 13,151 per tonne, from 10,751 Tenge per tonne year-on-year, as it focused on price control. Its local market share dropped to 15% from 18%, but exports rose to 11% of sales from 4% year-on-year.
Shares in Steppe Cement were untraded at 16.10 pence Monday.
Steppe Cement Ltd is a leading construction materials producer in Kazakhstan. Steppe Cement’s cement production facilities consist of four wet kilns and one energy efficient dry kiln. It is the leading cement producer in Kazakhstan to manufacture cement using the dry method which utilises less resources.