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STCM Steppe Cement Ltd

0.50 (2.13%)
Last Updated: 13:30:31
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Steppe Cement Ltd LSE:STCM London Ordinary Share MYA004433001 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.50 2.13% 24.00 99,921 13:30:31
Bid Price Offer Price High Price Low Price Open Price
23.00 25.00 24.00 23.50 23.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Cement, Hydraulic USD 86.73M USD 17.78M USD 0.0812 2.96 52.56M
Last Trade Time Trade Type Trade Size Trade Price Currency
14:17:35 O 12,125 24.68 GBX

Steppe Cement (STCM) Latest News

Steppe Cement (STCM) Discussions and Chat

Steppe Cement Forums and Chat

Date Time Title Posts
28/11/202313:19Steppe Cement - Kazak Infrastruture Play5,839
25/11/202015:08anyone know anything about steppe cement ?11

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Steppe Cement (STCM) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Steppe Cement (STCM) Top Chat Posts

Top Posts
Posted at 01/12/2023 08:20 by Steppe Cement Daily Update
Steppe Cement Ltd is listed in the Cement, Hydraulic sector of the London Stock Exchange with ticker STCM. The last closing price for Steppe Cement was 23.50p.
Steppe Cement currently has 219,000,000 shares in issue. The market capitalisation of Steppe Cement is £52,560,000.
Steppe Cement has a price to earnings ratio (PE ratio) of 2.96.
This morning STCM shares opened at 23.50p
Posted at 21/11/2023 17:18 by aleman
So volumes were -11% in H1 but +9% in Q3/23 v Q3/22 (itself 2% above Q3/21). The company said at Q3:

"It is pleasing to report increased revenues for the third quarter this year, with improved volumes being driven by adjusted pricing. Despite a slightly smaller domestic cement market so far in 2023, we remain confident that the Company will continue (to) deliver strong sales figures going forwards and look forward to providing updates in due course"

The national Kazakh cement market has now started Q4 at a seasonal record level (just) after a recovery from a series of significant monthly y-o-y falls between August/22 and March/23, aggravated by sharp rate rises between March/22 and January/23 (10.25% to 16.75%) and disruptive winter weather - but now with easing inflation and a couple of interest rate cuts (to 16.0%).

June 30 saw debt at $6.7m and cash at $6.0m. Cash at 10/10/23 was reported as $10.0m so a rise of $4.0m in the first 15 weeks of H2.

Yet the share price continues to fall. I find it utterly baffling, given the strong economy, strong cement market and much improved Q3 sales. I topped up again and very much look forward to the year-end update in January.
Posted at 20/11/2023 20:45 by mattjos
20 September 2023:Directors Dealing

Steppe Cement Limited announces that is has been notified that the family of the Company's Chief Executive Officer, Javier del Ser Pérez, yesterday purchased 160,000 ordinary shares of nil par value each in the capital of the Company ("Ordinary Shares"), on market, at a price of 23.28 pence per share, for a total consideration of £37,250.

11 October 2023:Trading Update for the Third Quarter ended 30 September 2023

"It is pleasing to report increased revenues for the third quarter this year, with improved volumes being driven by adjusted pricing. Despite a slightly smaller domestic cement market so far in 2023, we remain confident that the Company will continue deliver strong sales figures going forwards and look forward to providing updates in due course”.

68.85% of the entire issued equity is now locked up amongst just 4 holders:

Tan Sri Azmi bin Wan Hamzah 31.0%
Family of David Crichton-Watt 16.97%
Apollo Asia (Claire Barnes) 12.34%
Family of Javier Del Ser Perez (CEO) 8.54%

A Further 5.37% is with Firebird spread amongst three of their funds

That leaves max 25.78% of the equity in issuance as the 'free-float'.
There'll be a few sub-3% holders who will likely lock up 5-6% so, now its down to 20% of 219,000,000 = 43.8m shares

I believe Firebird's presence will help stymie any possibility of a low-ball offer from the other four.

They could offer £1 / share for everything they don't already own and it would still be dirt cheap.

However, am not sure that Claire Barnes would wish to lock up Apollo Asia's cash in an unlisted entity for an undetermined length of time.

Some interesting bed-fellows for sure.

I believe we'll see a dividend, per the guidance and that we're at/near the cycle lows with regards the business itself.
Posted at 11/10/2023 10:19 by 1knocker
Contracting market and price reductions (despite increasing production costs) to more or less maintain existing market share = steeply reducing profit. Notable that there are numerous references to 'revenue' but not to profit margins. The share price could fall plenty further yet, especially if the domestic market continues to contract.

2p now looks to be the very best we can hope for by way of a dividend, and it looks increasingly unlikely that it will be paid this month, Quite likely we will get 2p, as companies do not like fall short of guidance, but the dividend outlook thereafter is pretty bleak.

Not a time to buy or top up. Wait at least until after the ex div date, and probably well into next year, perhaps longer, IMO.Very tempted to take the hit and sell in the expectation of a much lower re-entry price down the line.
Posted at 11/10/2023 08:57 by lloydypool
Not going to rerate the share price quickly I don't imagine but reasonable cash position points to some dividend (2p would cost around $5m I think)and the business seems to be ticking over ok. I'm sure it could have been more positive but at 26p a more negative scenario was surely already baked in?
Posted at 19/9/2023 08:51 by lloydypool
Looks like June to June the net cash position is down by circa $10m having paid out around $14m in divi (fag packet calculation). They may been a bit gung ho in paying out 5p last time & this looks like any divi now would be a bonus, 2-3p as suggested is very unlikely(that fear held me from buying back until last week). Whilst I’ve obviously been early I don’t think today’s RNS is as bad as the share price drop suggests, price now hitting Covid lows and whilst clearly the world has got new problems now I say low 20’s here represents a good prospect for the long term investor, wait for conditions to improve & you’ll be buying in at a much higher price.
Posted at 14/9/2023 07:21 by tag57
Lack of news flow, inflation/interest rates driving down income stocks, divi reduction and unknown payment date probably all
Playing a part in price reduction.
Hopefully see a pick up in share price once divi amount and timing announced although doubt we will see it increase above 30p.
May add a little more if this gets down to 25p.
Posted at 30/8/2023 10:43 by 1knocker
Please yourselves, but in my experience a shortage of a commodity leads to price rises and a glut leads to depressed prices.In the case of a commodity used around the world the price effects are worldwide. Coffee, steel, oil, gas and yes even cement!

Tariffs, subsidies, transport costs and established supply trains are factors which effect local markets so that prices are not uniform across the world, but you are not going to see premium prices in Kazakhstan if the Chinese are virtually giving the stuff away.

Please yourselves though.I have no objection to anyone buying Steppe and giving the share price a bit of support !! If it goes up a bit I may sell, with a view to getting back in later, cheaper. Sadly, BB warriors don't move prices.
Posted at 17/7/2023 15:53 by tigerbythetail
For myself, I'm happy to buy shares in this solid well-run company at less than 30p.
The share price will do its thing, and it may well drop a bit further in the next few months, but the underlying business is sound and in due course the share price will rebound.
Posted at 12/11/2022 10:12 by wanobi
FWIW - here it is,

Steppe Cement's (LON:STCM) five-year earnings growth trails the stellar shareholder returns - Simply Wall St - Published November 11, 2022

The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But on the bright side, if you buy shares in a high quality company at the right price, you can gain well over 100%. One great example is Steppe Cement Ltd. (LON:STCM) which saw its share price drive 120% higher over five years. It's also up 43% in about a month.

The past week has proven to be lucrative for Steppe Cement investors, so let's see if fundamentals drove the company's five-year performance.

Our analysis indicates that STCM is potentially undervalued!

While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.

Over half a decade, Steppe Cement managed to grow its earnings per share at 74% a year. The EPS growth is more impressive than the yearly share price gain of 17% over the same period. So one could conclude that the broader market has become more cautious towards the stock. This cautious sentiment is reflected in its (fairly low) P/E ratio of 5.45.

You can see how EPS has changed over time in the image below (click on the chart to see the exact values).

It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. On the other hand, we think the revenue and earnings trends are much more meaningful measures of the business. This free interactive report on Steppe Cement's earnings, revenue and cash flow is a great place to start, if you want to investigate the stock further.

What About Dividends?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Steppe Cement's TSR for the last 5 years was 209%, which exceeds the share price return mentioned earlier. The dividends paid by the company have thusly boosted the total shareholder return.

A Different Perspective
It's good to see that Steppe Cement has rewarded shareholders with a total shareholder return of 14% in the last twelve months. That's including the dividend. However, that falls short of the 25% TSR per annum it has made for shareholders, each year, over five years. Potential buyers might understandably feel they've missed the opportunity, but it's always possible business is still firing on all cylinders. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Take risks, for example - Steppe Cement has 1 warning sign we think you should be aware of.

Wan :-)
Posted at 05/11/2022 18:39 by mattjos
What likely to happen is as follows:

Each shareholder receives a 5p 'B' share for every Ordinary Share they own.

The company will then buyback all of the 'B' shares from all of the shareholders at their par value of 5p ea.

This will be carried out together with a consolidation of the Ordinary Shares & the rate of consolidation will be equal to the sums expended in issuing/buying back the 'B shares.

The net effect should be that shareholders receive the intended 5p / Ordinary share payment and the total number of the shares they own will be reduced in quantity.

The near term effect should be slightly different to a dividend as, under ordinary circumstances, the share price drops on the Ex date according to the sum of the divi payable.
On this occasion though, that 5p share price reduction will be negated by their being an equivalent reduction in the number of shares in issuance & therefore the share price should remain flat on execution.
Steppe Cement share price data is direct from the London Stock Exchange

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