External broker reports(aggregated public sources), CardinalStone

CardinalStone

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing.

Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

External broker reports(aggregated public sources)

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing. Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

Equity Bottom-Up

<ul><li>Aradel Holdings Plc (NGX: ARADEL—BUY, TP: *UR) published its unaudited Q1’25 financial results, reporting a 33.5% YoY increase in PAT to $22.5 million.</li><li>The performance was driven by a stellar 69.8% YoY growth in revenue, which rose to $131.4 million.</li><li>Revenue growth was largely fueled by a 177.0% YoY surge in crude oil revenue to $93.4 million, driven by a 12.1% YoY increase in oil production volumes (to 15.0 kboepd), improved utilization of the Trans Niger Pipeline (TNP), minimal crude losses and additional value from the Alternative Crude Evacuation (ACE) system. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Aradel Holdings Plc (NGX: ARADEL—BUY, TP: *UR) published its unaudited Q1’25 financial results, reporting a 33.5% YoY increase in PAT to $22.5 million.The performance was driven by a stellar 69.8% YoY growth in revenue, which rose to $131.4 million.Revenue growth was largely fueled by a 177.0% YoY surge in crude oil revenue to $93.4 million, driven by a 12.1% YoY increase in oil production volumes (to 15.0 kboepd), improved utilization of the Trans Niger Pipeline (TNP), minimal crude losses and additional value from the Alternative Crude Evacuation (ACE) system. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aradel Holdings- PAT Grows by 33.5% YoY in Q1'25 - 28 April 2025