Share Name Share Symbol Market Type Share ISIN Share Description
Steppe Cement LSE:STCM London Ordinary Share MYA004433001 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 20.50p 20.00p 21.00p 20.50p 20.50p 20.50p 0 07:47:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 42.5 0.6 0.1 286.1 44.90

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Date Time Title Posts
17/2/201811:21Steppe Cement - Kazak Infrastruture Play866
02/4/200606:59anyone know anything about steppe cement ?7

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Steppe Cement Daily Update: Steppe Cement is listed in the Construction & Materials sector of the London Stock Exchange with ticker STCM. The last closing price for Steppe Cement was 20.50p.
Steppe Cement has a 4 week average price of 20.50p and a 12 week average price of 20.50p.
The 1 year high share price is 23p while the 1 year low share price is currently 13.50p.
There are currently 219,000,000 shares in issue and the average daily traded volume is 7,997 shares. The market capitalisation of Steppe Cement is £44,895,000.
jailbird: Is the WCC share price example a rather optimistic one...maybe in 2-5+ years ?
hari: Also can you tell me why you are still bullish..forget seasons...last 2 years , year on year margin, revenues and market share is decreasing. The share price fall is indicative of this trend.
azalea: Wilo I give way to your understanding and knowledge of the consolidation steps being taken in the Kaz cement market. However, given the 28.66% stake amassed over the years by Malaysian millionaire/billionaire Amzi Wan Hamzah in STCM, I question the thinking that he might be interested in buying into/out another cement company; when he has yet to see a return on the millions he has invested in STCM. My thinking is that he is looking for a buyer for a greatly modernised STCM either by another participant in the Kaz cement market, or a by Chinese cement company ahead of an agreement by involved governments to build an international standard gauge rail line from China to Tehran via Kazakhstan. Any increase in the stakes held by current holders in STCM, could certainly point in the latter direction, and boost its share price.
azalea: Everything is up except the delivery price (ex VAT)down 9%, which is far less than the fall in the share price over the same period. Along with line 5 low cost production steaming ahead to its target of 2.5m tonnes this year, if market share increases further, it might afford a move to increase prices. FY results might reveal a further dividend. At the current price Mr Hamzah might decide to add a further chunk to his 27.03% holding.
arej: one of three small caps picks for 2012 in shares magazine. the article acknowledges the problems with debt and the kazakh economy that have held the share price back but suggests 2012 could be a good year.
scburbs: Market share seems to be going well at the moment. However, it is clear that becoming cash flow positive and profitable will be the key drivers of any share price re-rating. Still very highly geared even after the placings. Hopefully the Chinese will try and corner the world's cement market and send the cement price up as they could do with a higher price! "For the first 9 months of 2010, the cement market in Kazakhstan increased by 8% compared to the corresponding period in 2009. Steppe Cement estimates the cement market for 2010 to be 5.4 million tonnes. Imports into Kazakhstan declined to 20% of the total market from 23% in the corresponding 9-month period in 2009 while Steppe Cement's market share increased to 21.5% from 19% in the corresponding 9-month period in 2009."
arej: bookiebuster, you are right that the debt is a problem and has been the reason for the placings, which have been imposed on the company. but to say that placings through two of the most difficult years for many decades are the norm seems a bit unfair. construction crashed in kazakhstan but is on its way up and if cement demand increases and cement prices increase, which seems reasonable to expect, then stcm is in a good position to claim a sizeable chunk of the market. my understanding is that to build the cement facilities that stcm has would cost upwards of £500m so a market cap of £80m with some £50m of debt still leaves some room for growth. of course it all depends on how quickly demand for cement picks up in kaz. a lot of ifs and whens, of course, but that is why they call kaz a frontier market and why the share price is where it is.
bookiebuster: The issue is the high level of debt, $81m in Jan 2010 from $92m in Jan 2009 The business is not cash flow positive ($4m loss in H1 2010) so the debt is being paid down through placements which is never good. The share capital has doubled since 2009. With 80m shares by Q2 2009, 40m shares were issued at 25p and 34m at 40p last month. This dilution is the main reason for the share price slump and a big placement each year seems to be the norm. The refinancing has deferred loan repayments but pushed up the interest rate on the debt from 4.5% to 6.25% In terms of market share of the Kazakh cement sector, Steppe had 32% in 2000, this was down to 18% in 2009 so they also appear to be getting squeezed by local competition.
arej: thebull, i agree that this company only has one way to go. small kazakh companies still tend to be seen as extra high risk at the moment - see bbs for sunkar and hambledon, eg, for frustrated shareholders, though each has its own particular story and both seem now to be on the rise. steppe is closely connected to the kazakh economy. in the crash construction dropped massively but it is beginning to pick up again. if the world economy stays ok, commodity prices stay high, then cement will be back in demand in kazakhstan. there is a new silk road being built, more railways, and my information is that real estate construction will really pick up next year. this is still a bit of a long hold, probably won't start making good money until next year, but it hasn't diluted that much and there is no reason why the share price shouldn't return to pre crash levels, at some point. it was at 80p only a few months ago but has fallen right back and i think is a great buy if you are prepared to salt it away for a year or two. i'd be buying more but i started buying in the 30s and already have a large chunk of my investments here. the placing seems to have been well taken up. imho and dyor of course
arej: i was pointed in the direction of this stock by someone who knows kazakhstan and after doing a bit of research - not that easy, true - i am astonished that there is so little interest in it. it is a large cheap producer of cement in kazakhstan. for the last year or two that hasn't meant much but as the kazakh economy continues to revive - which it will as long as oil, copper, uranium etc prices don't plummet again - and construction picks up in the country stcm will be in clover. apart from anything else the world bank and others are funding a new silk road through the heart of kazakhstan - a land route for chinese exports to reach europe. what will the service stations, shopping centres etc along this road be built from? plus the likelihood of the appreciation of the tenge over the next year, which will benefit steppe. less than two years ago steppe was above 300p. there has been one smallish share issue since then with little likelihood of more needed as it is already on the way back to profit and has no new big capital needs and a serviceable debt level. my source suggests a reasonable expectation for the share price in a couple of years time is 500p. it is 70p now. a comparison might be the prospects of west china cement a year ago. if there is anyone out there on this thread i'd be grateful if you could tell me whether i have missed something. i asked about it on wcc when i first heard about it and was gently dismissed but after more research i can't find a catch, other than there is likely to be a bit of a wait, as long of course as the world economy doesn't collapse again.
Steppe Cement share price data is direct from the London Stock Exchange
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