Preliminary Update for the Year Ended 31 Dec 2011

RNS Number : 4506W

Steppe Cement Limited

31 January 2012

 



Steppe Cement Ltd

31 January 2012

Preliminary update for the year ended 31 December 2011

Steppe Cement Ltd ("Steppe Cement") recorded revenue for the year ended 31 December 2011 of 14,073 million Tenge ("KZT"), which was 31% higher than the 10,740 million Tenge achieved in 2010.

Sales volume of 1,229,288 tonnes of cement was achieved for 2011, a 6.5% improvement over the 1,153,874 tonnes in 2010.

Average price (ex-VAT) for delivered cement was KZT 11,448 per tonne for the year ended 31 December 2011, compared to KZT 9,286 per tonne in 2010. For 2011, ex-factory price stood at KZT 9,913 per tonne representing US$67 per tonne based on current exchange rates. 

In 2011, the cement market in Kazakhstan increased to 6.2 million tonnes, a 9% increase on 2010 levels. Imports into Kazakhstan declined to 14% in 2011 from 20% in 2010.

Steppe Cement maintained its market share in 2011 despite increased competition after two new factories commenced production during the year.

Steppe Cement expects to publish its full results and audited accounts denominated in US$ in April 2012.

The Company's Nominated Adviser is RFC Corporate Finance Ltd.

Contact: Stephen Allen or Trinity McIntyre, [phone]

 

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