Steppe Cement (GB:STCM) has released an update.
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Steppe Cement Limited reports a challenging fiscal year with a net profit of USD 4.5 million, a sharp fall from USD 17.9 million the previous year, amid high inflation and intense local competition that hindered exports and increased production costs. Despite these difficulties, the company managed to maintain a strong balance sheet and focused on strategic investments, including a CAPEX/refurbishment program to boost future production capabilities. Shareholders’ funds increased, and the company adjusted its strategies to cater to domestic market demands, reducing its reliance on exports.
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