Business
Market Update for 3Q 2010
Market Update for 3Q 2010.
About this update from Steppe Cement Ltd
[{"type":"text","content":"\n RNS Number : 9310T Steppe Cement Limited 06 October 2010 \n\nSteppe Cement Ltd\n6 October 2010\n \nMarket Update for the Third Quarter ended 30 September 2010\n \nThird quarter 2010 revenue of KZT 4,047 million was 31% higher than the corresponding quarter in 2009. For the 9 months ended 30 September 2010, Steppe Cement Ltd (\"Steppe Cement\") recorded revenue of KZT 8,741 million compared to KZT 6,964 million in the corresponding 9-month period in 2009, representing a 26% improvement.\n \nSales volume of 424,762 tonnes was achieved during the third quarter, a 48% increase over the third quarter of 2009. For the first 9 months of 2010, the sales volume increased by 30% to 947,919 tonnes from 729,123 tonnes in the corresponding 9 month period in 2009. Steppe Cement's wholly-owned subsidiary, Karcement JSC accounted for 48% of the total sales volume.\n \nAverage price (ex-VAT) for delivered cement was KZT 9,221 per tonne in the first 9 months compared to KZT 9,551 per tonne in the corresponding period in 2009. For the 9 months, ex-factory price stood at KZT 7,988 per tonne representing USD54.3 per tonne based on current exchange rates. \n \nFor the first 9 months of 2010, the cement market in Kazakhstan increased by 8% compared to the corresponding period in 2009. Steppe Cement estimates the cement market for 2010 to be 5.4 million tonnes. Imports into Kazakhstan declined to 20% of the total market from 23% in the corresponding 9-month period in 2009 while Steppe Cement's market share increased to 21.5% from 19% in the corresponding 9-month period in 2009. \n \nThe Company's Nominated Adviser is RFC Corporate Finance Ltd.\nContact: Stephen Allen or Trinity McIntyre, ph: +61 8 9480 2500\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END TSTKKADBQBDKQKK \n ","length":2657,"tagName":"div"}]