Steppe Cement maintains first-half volume, increases turnover

Steppe Cement updated the market on its first-half performance on Tuesday, reporting that it sold 837,063 tonnes of cement for KZT 19.58bn (£35m).

The AIM-traded firm said that compared with 840,661 tonnes of cement for KZT 16.66bn in the first half of 2021, meaning it maintained its volume but increased turnover by 18%.

It said the average price for the current period for delivered cement was KZT 23,391 per tonne excluding VAT, up from KZT 19,814 per tonne a year ago.

The ex-factory price for the current period was KZT 20,485 per tonne, up from KZT 16,571.

“The cement market in Kazakhstan in the first half of 2022 remained the same as in 2021,” the board said in its statement.

“Imports represented 6.0% of the local market as in 2021, but exports from Kazakhstan were reduced by 44% to 0.55 million tonnes.

“Steppe Cement's local market share was 14.6% in the first half of 2022.”

At 0949 BST, shares in Steppe Cement were up 6.65% at 38.4p.

Reporting by Josh White at Sharecast.com.