Steppe Cement summed up work results for the first nine months of 2021

Kazakh cement company Steppe Cement reported third quarter revenue of KZT 12.05bn (£21m), which was 8% higher year-on-year. The AIM-traded firm said that for the nine months ended 30 September, it recorded revenue of KZT 28.81bn which was a 16% increase over the first three quarters of 2020.

Sales volumes of 535,200 tons were achieved during the third quarter, down 4% year-on-year, which the board put down to the company prioritizing price over volume in the period.

For the first nine months of 2021, its sales volume was up 4% to 1,375,464 tons.

For the first three quarters of 2021, the ex-factory price stood at KZT17,930 per ton, which was an increase of 13% over KZT 15,919 in 2020.

"For the first nine months of 2020, the cement market in Kazakhstan was 9.2 million tons, which was 24% higher than in 2020," the board said in its statement. "Imports stood at 7% of total consumption, similar to 2020." Steppe said exports from Kazakhstan totaled 1.4 million tons.

"Current estimate of the cement market for 2021 is 11.3 million tons, or 24% above 2020, with Steppe Cement's market share at 14%."