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(Alliance News) - Construction materials producer Steppe Cement Ltd on Friday said it expects a full-year single-digit revenue rise, with average cement prices offsetting flat volume growth.
In the year ended December 31, Steppe said revenue came in 7.7% higher year-on-year at KZT30.5 million, about GBP3.0 million, from KZT28.3 million last year.
Cement sales volumes were broadly flat year-on-year at 1.7 million tonnes.
Average price however increased by 8.0% to KZT17,796 per tonne, from KZT16,480 last year.
Steppe's market share in Kazakhstan remained at 17.5%. Cement market consumption in the country edged 2.3% higher to 8.9 million tonnes from 8.7 million tonnes.
The company will report its full-year results in April.
Shares in the firm were 5.4% lower at 35.00 pence each in London on Friday morning.
By Eric Cunha; ericcunha@alliancenews.com
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