Steppe Cement (GB:STCM) has released an update.
Steppe Cement Limited has reported a decline in sales and turnover for the first half of 2024 by 3.9% and 9.6% respectively, due to increased competition and lower prices, compared to the same period last year. Despite the challenging market conditions, the company managed to focus on local markets, improving production and productivity to mitigate increased costs. The Kazakh cement market shrank by 1.6%, but Steppe Cement increased its market share to 17% by the end of the period and anticipates sales volumes in 2024 to surpass the previous year.
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