LONDON (Alliance News) - Steppe Cement Ltd Friday said it sold 709,459 tonnes of cement for KZT9.13 billion in the first half, compared with 564,440 tonnes of cement for KTZ8.17 billion a year earlier, as part of its strategy to strive for higher volume rather than pursuing higher selling prices.
The company said in the first half, the average price for delivered cement was KTZ12,862 per tonne, compared with KTZ14,465 per tonne a year earlier.
The Kazakhstan-focused cement producer said ex-factor price for first half was KTZ10,797 per tonne, compared with KTZ12,084 a year earlier.
Steppe Cement said the cement market in Kazakhstan remained flat during the first half of the year. However, it managed to increased its market share to 19% from 15% a year earlier.
"Although the Kazakhstan cement market has been recovering since the Kazakh tenge devaluation in February 2014, the company has revised its estimate for country consumption to 8.2 million tonnes for 2014, which is unchanged from 2013," the company said.
Steppe Cement shares were untraded Friday morning; they were last quoted at 41.00 pence.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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Steppe Cement (STCM)