Steppe Cement Share Discussion Threads

[eggbaconandbubble] 13/7/2022 10:33

Someone did not like something in the AGM!

[bluemango] 13/7/2022 09:23

AGM will have started at 9:00 our time, 4 p.m. in Kuala Lumpur.

[renewed1] 12/7/2022 16:58

Gary
That expenditure on the Rolling stock was given as the reason for not increasing the dividend last year so I think they owe shareholders an explanation about the benefirs gained from using their money!! Exports were down generally by 44% Did that effect the utilisation of the purchased rolling stock. If they are only giving a trading update every 6 months it wont hurt them to provide a full update!!!!

[scrwal] 12/7/2022 16:44

They are under the RNS announcements.

[xenomorph1] 12/7/2022 16:26

where can i see the results? there are not on the site?

[1knocker] 12/7/2022 15:16

Don't jinx it folks !!! This is about the only blue spot in my portfolio over recent weeks. I need something to make a picturesque contrast with all that red.

[eggbaconandbubble] 12/7/2022 13:40

No slight intended.....but I'm always amazed by the lenghty posts on many bb's as well as this one, speculating about what is happening and what is going to happen....possibly!

I always find it better just to deal with the facts as they come out.

Saves a lot of time and effort. In fact it reminds me about the person who asked the Duke of Wellington before Waterloo what his battle plans were. - He simply replied "We are going to turn up and then decide!

[scrwal] 12/7/2022 13:09

Volumes are constant but that doesn't stop fixed costs rising year on year in absolute terms ie prior year they were say $3m but now they are $3.75m.
You would hope margins have improved but no evidence has been given to show price inflation is higher than cost inflation.

Not surprised nothing said about the divi - they may have a shed load of questions for the AGM that they intend answering then. Also given that no definitive answer has been given then it must still be a work in progress with options being explored and then rejected either by the company or the Malaysian authorities. All they can do is issue a mundane RNS saying it is being looked at because they wont know for certain until any go ahead is approved.

[gary1966] 12/7/2022 12:02

gutterhead,

Fixed costs yes but they have variable as well, which includes energy costs that we know have increased this year. Not sure what will have happened with wage costs. Also not sure what the effect of the devaluation of the Tenge against the $ will do. I stopped looking at the exchange rate when it was back at around 430 as I thought normal service had been resumed, however I see it is back to 475 as I type.

I am not being negative as I hold quite a few of these but have stopped trying to second guess and trying to stay realistic. I do agree however that profitability will improve but don't yet have sufficient information to know by how much as everything suggests that costs will have risen as a result of the geopolitical situation. I would also agree with anyone that feels that these are very cheap at current levels.

[gutterhead] 12/7/2022 09:42

Gary
I assume that if volumes are the same, then so are fixed costs of production. If you’re selling the same volumes for far greater revenue, it’s a fair assumption that margin has improved and that some of it should reach bottom line. It’s just my guess and you’re welcome to ignore it. GH

[gary1966] 12/7/2022 08:56

renewed1,

We have no information on costs and so why do you expect to be able to gauge the benefit of the money spent on the additional rolling stock?

All we can deduce from today’s RNS is that volume is holding up and prices have increased substantially, this is a great start point. Costs we will have to wait and find out in the interim results but as Mattjos says the management have a good track record on this side of the business.

Hopefully there will be an update on the dividend situation at the AGM in a couple of days and that is why they didn’t bother mentioning it here and deflecting away from the trading update.

GLA

[bluemango] 12/7/2022 08:46

#4653 If discussions on the dividend and WHT are at a delicate stage, they would not want to rock the boat by commenting on it.

[renewed1] 12/7/2022 08:45

I dont understand why there is no apparent financial benefit from the expensive purchase of rolling stock last year. Or any mention of this rolling stock.

[rahosi] 12/7/2022 08:41

Surprised no comment on the dividend. Not even - Discussions are ongoing.

[tigerbythetail] 12/7/2022 08:40

Quarterly numbers good.
But this needs news about the promised 5p dividend.
How are they going to pay it out to avoid any withholding tax?

[mattjos] 12/7/2022 08:38

Main thing is the business is unaffected by recent events & management have consistently proven themselves competent at cost controls so, all good afaiac

[gary1966] 12/7/2022 08:27

gutterhead,

What connection is there between revenue/volume and costs that you can reach your conclusion? No indication has been given in the RNS regarding costs/profitability.

[dodger777] 12/7/2022 08:14

Can’t complain about those results 👍🏻
Just need this divvy carry on sorted 🙄

[gutterhead] 12/7/2022 07:39

Increased turnover on similar volumes would mean costs not out of control so could be a lot more profitable. Solid. Div news would be welcomed ….

[jeanesy] 12/7/2022 07:14

Results out. Look pretty solid to me. Increasing market share is what stood out to me. What do others think ?

[mattjos] 11/7/2022 19:03

Sadly will be preparing and cooking the staff summer BBQ so, cannot tune in.I imagine most investors Q's will be concerning the dividend and if/how/when they can circumvent the tax.If anyone gets the chance, please can they ask what the strategy is beyond annual incremental capacity and productivity improvements?Do they see any long term opportunity for larger capacity increase - either organic or by acquisition?

[gb904150] 11/7/2022 14:15

yes, i've emailed the above and had a response from Javer del Ser to say they will happily include me. They asked a screenshot from my broker page as proof of holding which was fair enough.

I'm yet to receive the zoom invite though. So will have to chase up if I've not seen it by tomorrow.

[wilo101] 11/7/2022 12:55

who has emailed - [e-mail], to get an invite and to attend by Zoom on Thursday, 13.07.22, Kuala Lumpur time?

[finctastic] 09/7/2022 09:23

That's what I'm seeing with a hint of optimism. You would hope the next earnings release would get us there even without the dividend clarification . Still waiting though. zzzzzz

[santar] 09/7/2022 03:59

Forgetting Mad Vlad, who may be intelligent but is clearly delusional (absolute power and all that) - does the chart look like it’s forming a reverse head & shoulders pattern ready for a move back up to 43p on resolution of dividend tax issue?