Steppe Cement Share News (STCM)

LONDON MARKET CLOSE: US jobs growth adds to flagging hopes on Fed cuts

(Alliance News) - Stock prices in London closed firmly down on Friday, hit by concerns that the US Federal Reserve may cut interest rates later than hoped this year.

Steppe Cement reports lower production, revenue in first quarter

(Sharecast News) - Steppe Cement said in an update on Friday that in the first quarter of 2024, it sold 175,383 tonnes of cement, generating KZT 3.78bn (£6.69m) in revenue.

Steppe Cement shares down after disappointing first quarter sales

(Alliance News) - Steppe Cement Ltd shares sank on Friday, as the company reported a downturn in its Kazakhstani operations and announced a shareholder return program.

AIM WINNERS & LOSERS: Gelion charges higher; Steppe Cement slumps

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

LONDON MARKET OPEN: Europe slumps on US rate worry and rising tensions

(Alliance News) - Stocks in Europe had a downbeat start to the day on Friday, with investors unnerved by rising geopolitical tensions and hawkish remarks from US central bankers.

IN BRIEF: Steppe Cement annual revenue falls on lower sales and prices

Steppe Cement Ltd - Malaysia-based Kazakhstan-focused cement producer - Says revenue in 2023 was KZT37.29 billion, around USD82 million, down 7.2% from KZT40.20 billion the year before. This was due to lower sales volumes, which fell year-on-year to around 1.6 million tonnes in 2023. Average price for delivered cement was KZT22,927 per tonne, down 4.3% from KZT23,963 per tonne achieved in 2022. Adds 2023 cement market consumption in Kazakhstan was 11.5 million tonnes compared to 11.6 million the year prior, with Steppe's local market share being 14.2% compared to 14.5% year-on-year.

Steppe Cement revenues fall as volumes and prices decline

(Sharecast News) - AIM-traded Kazakh cement producer said it expects to report lower revenues for 2023 as average prices and volumes both declined year-on-year, while inflation is continuing to hold back bottom-line progress.

IN BRIEF: Steppe Cement to review ways to return funds to shareholders

Steppe Cement Ltd - Malaysia-based Kazakhstan-focused cement producer - Says new tax legislation in Malaysia, the Netherlands and Kazakhstan means its corporate structure is inefficient for making shareholder returns. Says it is therefore reviewing other ways to distribute value to shareholders. Notes that it said it would pay a dividend between 2 pence and 3p in July last year.

Steppe Cement eyes weaker profit due to lower prices in 2023

(Alliance News) - Steppe Cement Ltd on Wednesday said it expects earnings in 2023 to be lower than in 2022 due to a lower pricing environment and the impact of inflation on energy and other input costs.

TRADING UPDATES: Maintel outlook promising; Good Energy revenue up

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

AIM WINNERS & LOSERS: Fiinu plunges on loss of UK banking licence

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

Steppe Cement sells less cement at lower price in first-half

(Alliance News) - Steppe Cement Ltd on Wednesday said it sold less cement at a lower average price in the first half of 2023.

UK shareholder meetings calendar - next 7 days

TRADING UPDATES: Tintra in Rwandan push, Steepe Cement profit flat

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

IN BRIEF: Steppe Cement shares plunge as first quarter sales drop

Steppe Cement Ltd - Karaganda, Kazakhstan-based cement manufacturer - Sells 214,832 tonnes of cement for KZT4.94 billion, around GBP8.7 million, in the first quarter of 2023. In the same quarter of 2022, the company sold 281,968 tonnes of cement for KZT6.30 billion. This represents a 24% decline year-on-year in cement tonnes sold and a 21% year-on-year decline in the price of cement sold. Adds that its market share reduced to 13% in the quarter from 14% in the same quarter the year prior. Explains the fall in shipment came against a backdrop of increased interest rates and logistical issues arising from an overloading of the rail network. Currently estimates that Kazakhstan's cement market demand will reduce to between 10 million tonnes per year to 10.5 million tonnes per year, but adds there is a "high degree of uncertainty" regarding this due to the geopolitical situation.