BBA Comment On Steppe Cement's Positive Sales Update For 2009
•Steppe Cement recorded turnover for the year ended 31 December 2009 of KZT 8737 million from cement sales totalling 930297 tonnes. This compares with KZT 11012 million and cement sales of 807300 tonnes for the year ended 31 December 2008. As we see the main reason for drop of revenues was low price for cement sold during 2009.
• Baltic Business Analysis (BBA) expects both, sales and net profit of Steppe Cement to improve in mid-term already. Long-term growth potential of the Company is high in our opinion. We keep positive expectations regarding Company’s expanding. The main growth will come from domestic price increase.
You can find target price, BBA Investment Rating, our comment and more in following report:
Steppe Cement Ltd (STCM), STCM Update Report 03/12/10
•Steppe Cement recorded turnover for the year ended 31 December 2009 of KZT 8737 million from cement sales totalling 930297 tonnes. This compares with KZT 11012 million and cement sales of 807300 tonnes for the year ended 31 December 2008. As we see the main reason for drop of revenues was low price for cement sold during 2009.
• Baltic Business Analysis (BBA) expects both, sales and net profit of Steppe Cement to improve in mid-term already. Long-term growth potential of the Company is high in our opinion. We keep positive expectations regarding Company’s expanding. The main growth will come from domestic price increase.
You can find target price, BBA Investment Rating, our comment and more in following report:
Steppe Cement Ltd (STCM), STCM Update Report 03/12/10
