Steppe Cement (GB:STCM) has released an update.
Steppe Cement Ltd has reported a 7% decline in revenue to USD 34.4 million for the first half of 2024, compared to the same period in 2023, primarily due to a 4% drop in sales volume. Despite a challenging start to the year with an 18% fall in sales volume in Q1, the company saw a 2% increase in Q2 following price adjustments. The company also faced a significant net loss of USD 3.5 million, a stark contrast to the modest profit seen in H1 2023, amidst higher production costs and a slight contraction in the Kazakh cement market.
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