How does that work on a practical basis?
ARM supplies cement to another guy [who?] who then mixes in the extras and then sends it back to ARM?
Then ARM sells it to consumers?
Why can't ARM make their own readymix?
Who vouches for the quality?

ARM was the #3 cement when it listed firm but it has been eclipsed by others... ARM could have easily been #2 had it grown slowly and steadily.

What % market share do the various cement firms have in Kenya?

Average demand for cement in East africa is about 10million metric tonnes vs installed capacity of < 20million metric tonnes. In Nigeria its about 90 million. Prior to 2017 cement demand in Kenya was growing at 10% y-t-y suggesting a modest demand of 20 million metric in 10 yrs.

Cement business is profitable and that is why if you stand on Mombasa road counting cars, you will now see shiny trailers branded Rai cement ferrying clinker to a new factory in rift valley(this was not the case 1 year ago). Further, Bamburi is increasing capacity in kenya and Uganda. Savannah, national cement(simba),Mombasa cement are increasing capacity. If you look at the number of tall buildings coming up in Westlands alone or count the number of mud-walled houses in Nyeri county(poverty is real in these parts despite the pride of these people) you will see that we are still a long way to go in terms of cement consumption.I have not even considered the 10,000 kilometers road annuity ,SGR,Turkana oil fields, LAPPSET etc.As they say, the best investment strategy when it comes to equities can be abbreviated BBC i.e., Beer, Bank and Cement

Please see these two links(below).

2018 numbers source East African


December 2017 numbers. Source construction Kenya

Rocket rally prophecy has come to pass overcrowding @Obiero's fear uncertainty and doubt aka FUD.

@Obiero sell KQ and jump in before it's too late. This is the only share rising in a tanking market.