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Steppe Cement H1 Profit Rises; Turnover Up 17%

Steppe Cement Ltd (STCM.L) reported an increase of 52% in consolidated profit after tax for the six months ended 30 June 2021. The company managed to increase cement prices during the first half of 2021. As a result, gross margin increased from 40% to 46%. Steppe Cement noted that its local market share decreased from 16.5% to 15% due to the strong growth in the overall market. The Group expects to maintain this share for the full year.

For the first half period, consolidated profit after tax increased to $6.2 million from $4.1 million, last year. Earnings per share, in cents, was 2.8 compared to 1.9. Revenue rose to $39.5 million from $33.8 million.

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