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Dangote Cement: Buy, Sell or Hold? 

Record profits, a net-cash badge and a billionaire buyer have doubled the shares. At 20 times earnings, newcomers are paying for growth that has already been booked. 

Cement Industry
Dangote Cement Factory

Cement is a dull business made interesting by whoever controls the kilns. In Nigeria that is Aliko Dangote, and the nine-month numbers show why it pays. Revenue rose a fifth to ₦3.77 trillion. Pre-tax profit rose 41% to N1.47 trillion.


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