Cement News tagged under: Steppe Cement
Steppe Cement revenue rises as Kazakh demand rises 13%16 January 2014, Published under Cement NewsKazakhstan producer Steppe Cement said its 2013 revenue was 8.7 per cent higher YoY, as demand in the central Asian country increased by an estimated 13 per cent to 8.1Mt during 2013. The company generated revenues of KZT19.47bn during the year, up from KTZ17.91bn in 2012. Cement sales reached 1.37Mt, up from 1.35Mt in 2012m an increase of 1.3 per cent. Steppe said this gave it a market share of 17 per cent. The average price for delivered cement, excluding VAT, was KZT14,425/t, comp... |
Steppe Cement revises Kazakh full-year market outlook08 October 2013, Published under Cement NewsSteppe Cement Ltd said Tuesday its third-quarter 2013 revenue was slightly ahead on the same period of last year and has upwardly revised its outlook for full-year Kazakhstan cement demand. For the three months to the end of September the company reported revenues of KZT7.24bn (US$46.9m), a marginal 0.13 per cent increase on the KZT7.23bn achieved in the corresponding quarter of 2012. For the nine months ended 30 September, Steppe Cement recorded revenue of KZT15.39bn compared to KZT14.9... |
Steppe Cement 1H13 profit rises to US$3.8m17 September 2013, Published under Cement NewsSteppe Cement Ltd posted an increased pretax profit during the first six months of the year of US$3.8m compared with US$391,000 a year earlier. Revenue rose to US$54.3m versus US$52.2m while operating income was up to US$6.2m versus US$3.2m. Net profit attributable to shareholders swung to a profit of US$2.2m versus a loss US$109,000 in the same period a year earlier. Sales volumes, however, fell by 8.3 per cent to 564,440t versus 615,838t in the first six months of 2012. The average sale... |
Fitch Ratings affirms and withdraws Central Asia Cement’s rating13 September 2013, Published under Cement NewsFitch Ratings has affirmed and simultaneously withdrawn Central Asia Cement's (CAC) National Long-Term Rating at 'BB-(kaz)' with Positive Outlook and senior unsecured bond rating at 'B(kaz)'. Fitch says it will no longer have sufficient information to maintain the ratings, as CAC has chosen to stop participating in the rating process. "Accordingly, Fitch will no longer provide ratings or analytical coverage for CAC," said Fitch in a statement. Key rating drivers include the bouyant Ka... |
Steppe Cement 1H turnover boosted by higher prices10 July 2013, Published under Cement NewsIn the first half of the year, Kazakhstan-based cement producer Steppe Cement reported an eight per cent decline in volumes YoY but turnover rose by six per cent thanks to higher prices. During the January-June 2013 period, the company sold 564,440t of cement compared with 615,838t in the first half of 2012. Overall sales in Kazakhstan rose by 11 per cent during the period an the share of imports rose marginally from 14 to 15 per cent. Steppe Cement saw its market share drop from 19 p... |
Steppe Cement’s full-year profit rises on increased sales and prices25 April 2013, Published under Cement NewsKazakhstan-based cement producer Steppe Cement Ltd on Wednesday confirmed that pretax profit more than doubled in the year ended 2012 thanks to sales that were up by almost 10 per cent YoY and higher prices. Group revenue rose to US$120.17m for the year compared to US$96.11m in 2011 while pretax profit was US$12.04m compared to US$5.55m the year before. Cement sales increased by 9.8 per cent to 1.35Mt against 1.23Mt in 2011 while selling prices rose 14 per cent, well over the overall in... |
Steppe Cement's quarter sales volumes slip 2%09 April 2013, Published under Cement NewsKazakhstan-based producer Steppe Cement reported a two per cent drop in sales volumes for the first three months of the year. In a recent trading statement, the company said it sold 166,121t of cement in 1Q13 compared to 170,080t in the 1Q12. However, revenue rose 13 per cent YoY to KZT2272m (EUR11.6m). The company said it chose to maintain high cement prices during the quarter due to production constraints in the last quarter as a result of an exceptionally harsh winter. “We expect to... |
Steppe Cement's share offer oversubscribed03 December 2012, Published under Cement NewsKazakhstan-based cement producer Steppe Cement has announced that last month's offer for qualifying shareholders of 40m new shares in at 25p per share has been oversubscribed. Around 83 per cent of existing shareholders participated in the offer which resulted in an oversubscription of 34 per cent. The directors will scale back applications in accordance with the basis of allocation. The admission and dealing of the new shares will begin on AIM around the beginning of next week. The... |
Steppe Cement to raise GBP10m Via Underwritten Offer07 November 2012, Published under Cement NewsSteppe Cement said Wednesday it intends to raise GBP10m (EUR12.5m) via an offer for subscription of 40 million new ordinary shares at 25 pence per share. Net proceeds of the offer are expected to be up to GBP9.67m after expenses and will be used toward the completion of the reconstruction of Dry Line 5, for general working capital requirements and, if required, to repay a portion of the company's short-term bank borrowings. The offer price represents a discount of 6.1% to the closing mid... |
Fitch assigns Central Asia Cement 'BB-(kaz)' rating29 October 2012, Published under Cement NewsFitch Ratings has assigned Central Asia Cement (CAC) a National Long-Term Rating of 'BB-(kaz)' with a Stable Outlook. The agency has also assigned the prospective 2.5 billion tenge notes to be issued by the company and guaranteed by its parent company Steppe Cement Ltd and by the affiliated company Karcement an expected rating of 'B(kaz)(EXP)'. The final rating is contingent on the receipt of final documents conforming to information already received. "The rating reflects CAC's solid c... |