Steppe Cement suffers weak 3Q19

Steppe Cement Ltd of Kazakhstan had a weak third-quarter performance but said year-to-date revenue benefitted from rising cement prices.

The construction materials producer said revenue in the three months to the end of September was 10 per cent lower compared with the prior year, at KZT10.56bn (US$27.1m). A cement sales volume of 576,692t was achieved by Steppe Cement during the 3Q19, an 11 per cent decrease from the 3Q18.

However, for the first nine months of 2019 revenue rose by 10 per cent to KZT24.64bn from KZT22.42bn YoY. Sales volumes have fallen by two per cent to 1.4Mt  compared to the same period in 2018.