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LONDON (Alliance News) - Kazakhstan-focused Steppe Cement Ltd Wednesday said revenue for the year ended December 31, 2013 was 8.7% higher than the previous year, as the cement market in the central Asian country increased by an estimated 13% to 8.1 million tonnes during 2013.
The cement producer generated revenues of KZT19.47 billion during the year, up from KTZ17.91 billion in 2012.
Sales 1.37 million tonnes of cement was achieved for the year, up from 1.35 million tonnes in the comparable period, an overall increase of 1.3%. Steppe said this gave it a national market share of 17%.
Steppe said average price, excluding VAT, for delivered cement was KZT14,245 per tonne for the year, compared to KZT13,272 per tonne for the corresponding year in 2012.
For 2013, the average ex-factory price stood at KZT12,118 per tonne or USD79 per tonne. However, the Kazakhstani Tenge weakened against the US dollar from 150.7 to 153.7 during 2013.
Steppe said commissioning of Line 5, its new plant, continues, and in January the company plans to start the milling and circulation of the raw meal, run the coal mill, and test fire the kiln and cooler, weather permitting.
Steppe said its full results in US dollars will be published in April.
The stock was trading at 47.67 pence Wednesday morning, up 1.17 pence or 2.5%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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