Kazakhstan: Steppe Cement has recorded a consolidated profit after tax of US$4.1m in the first half of 2020, down by 24% year-on-year from US$3.1m in the first half of 2019. Sales volumes declined by 2% to 765,000t from 780,000t. The company says that it maintained its 2019 prices until the end of the first quarter of 2020, when reduced demand due to the coronavirus lockdown caused a fall. Production costs declined by 4% over the entire period.
Steppe Cement’s first-half profit drops by 9% so far in 2020
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