Steppe Cement reports increase in sales

Steppe Cement increased its sales of cement by two per cent in the first half of 2012, having sold 615,838 tonnes of cement for 7,728m Tenge, compared with 601,099 tonnes of cement for 6,286m Tenge in the same period the previous year.

The average price for the current period for delivered cement was 12,549 Tenge per tonne (excl. VAT), compared with 10,458 Tenge per tonne in the corresponding period of 2011.

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The volume of cement sales in Kazakhstan increased by 16% during this period while the share of imported cement dropped from 17% to 14%. As of first half 2012, Steppe Cement's market share decreased to 19% from 21% in 2011, but it increased from 18% in the first quarter of 2012.

The company currently estimates Kazakhstan's cement market consumption to be 6.8m tonnes for 2012, representing an increase of 10% from 2011.

The share price rose 6.73% to 27.75p by 10:29.

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