Steppe Cement posts 22% turnover increase in 1H18

Kazakhstan’s Steppe Cement recorded a 22 per cent increase in consolidated turnover to US$32.8m for the 1H18 period. Profit after tax rose to US$200,000 in the period, up from a US$300,000 loss in the 1H17.

The company also noted that production across all facilities in Kazakhstan advanced by 14 per cent to 4.8Mt in the first half of the year. While the construction industry remains strong in the western and southern regions of the country, the momentum of production is not expected to be maintained into the second half.

The country’s exports reached 0.92Mt from 0.45Mt, mostly due to demand from Uzbekistan, with exports now representing 19 per cent of local production.