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RNS Number : 5923G
Steppe Cement Limited
03 February 2010
Steppe Cement Ltd
Preliminary Update for the year ended 31 December 2009
Steppe Cement Ltd ("Steppe Cement") recorded turnover for the year ended 31 December 2009 of KZT 8,737 million from cement sales totaling 930,297 tonnes. This compares with KZT 11,012 million and cement sales of 807,300 tonnes for the year ended 31 December 2008.
Steppe Cement expects to release its full results and audited accounts in April 2010.
The Company's Nominated Adviser is RFC Corporate Finance Ltd.
Contact: Stephen Allen or Trinity McIntyre, ph: +61 8 9480 2500
This information is provided by RNS
The company news service from the London Stock Exchange
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Results were'nt bad considering the state of the construction industry and 50% drop in ex-factory price of cement. This is definitely one to stick in your ISA or SIPP for the longer term because IMHO cement, like oil will double in price as the construction industry recovers probably on the back of large infrastructure projects in developing countries like China.
I think this is a Strong Buy up to 80p and a Weak Buy up to £1 but look to buy on dips.
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