Steppe Cement revenue rises 19% amid price increases

Steppe Cement reported a 19% increase in third-quarter revenue, reaching KZT21,824 million (approximately $47.2 million). The growth was driven by a 28% rise in product prices, which offset a 6.5% decline in sales volumes.

The London-listed producer, which operates in Kazakhstan, noted that its capacity expansion project remains on schedule and within budget. The project aims to increase production capacity to 2.5 million tonnes, with commissioning planned for summer 2027.

Following a return to profitability in the first half of the year, which saw a profit after tax of $9.0 million compared to a loss in the previous year, the company's shares have experienced significant volatility, surging from 25.5p to approximately 40p within a month.