Steppe Cement revenue falls on lower pricing

Steppe Cement Ltd Tuesday said revenue in the first nine months of 2015 fell four per cent YoY as increased sales were offset by lower cement prices.

Kazakhstan producer said revenue in the third quarter of 2015 experienced a small rise to KZT7.77bn from KZT7.65bn a year previously. That brought revenue for the first nine months of 2015 to KZT16.04bn, down four per cent YoY from KZT16.77bn.

Revenue fell in the first nine months as the four per cent YoY rise in sales volumes to 1.34Mt from 1.29Mt of cement was offset by average sale prices dropping to KZT11,905/t of cement from KZT12,987/t a year earlier.

Kazakhstan market update
For the first nine months of 2015, the cement market in Kazakhstan increased by 14 per cent compared to the corresponding period in 2014, while imports remained unchanged at 13 per cent of the total consumption, said the company.

"Steppe Cement revises upwards its estimate of the cement market for 2015 to 9.5Mt, with Steppe Cement's market share at 18 per cent," it said. (Source: Alliance News)