15th Sep 2025 16:09
(Alliance News) - Steppe Cement Ltd on Monday reported a narrowed loss during the first half of 2025, but expects slower growth in the second half of the year.
The cement producer in Kazakhstan said its pretax loss for the six months that ended June 30 narrowed to USD601,000 from USD4.4 million a year earlier.
Revenue grew 19% to USD40.9 million from USD34.4 million, while selling expenses reduced by 11% to USD5.4 million from USD6.1 million.
Sales improved 18% to USD850,424 tonnes during the six-month period, from 719,294 tonnes the year before.
Looking ahead, Steppe said: "Volume of sales has been stable in the third quarter of 2025, and the price of cement has slightly increased, as is typical during the high season."
The firm expects to maintain its market share in Kazakhstan at around 14% for the full year, as well as volumes of 1.80 to 1.85 million tonnes.
It anticipates slower growth during the second half, as first-half growth was driven by "weather conditions, general economic growth, infrastructure projects, population growth and subsidised lending for private mortgages," primarily concentrated in South Kazakhstan.
Also in the second half, Steppe expects further increases in electricity tariffs and "continued general inflation".
"The company is exploring the opportunities to further increase clinker production in Line 6 as well as other options to optimise our assets," Steppe added.
Shares in Steppe Cement were down 7.4% at 16.20 pence in London on Monday afternoon. The stock has risen 4.5% over the past year.
By Emily Parsons, Alliance News reporter
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