Steppe Cement (LON:STCM) steady, H1 revenue close to valuation
Steppe Cement Ltd focused on prices and shares on Tuesday, rather than demand. First-half revenue climbed 43% in tenge even as Kazakhstan’s cement market didn’t move much, and the share price held at 20.50 pence. MarketScreener listed the market cap at $59.96 million, just below the $61 million in first-half sales. The Kazakhstan-based cement maker sold 978,950 tonnes in the first half, up from 850,424 tonnes last year. Revenue increased to KZT29.59 billion from KZT20.72 billion, boosted by stronger delivered cement prices and a two-point gain in market share to 15%.