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, TP: UR*) delivered a 79.3% YoY surge in net profit to $159.2 million in its 9M’25 results, propelled by a 448.3% jump in profits from associates, notably ND Western Limited and Renaissance Africa Energy Company (RAEC).</li><li>Consequently, earnings per share (EPS) rose to 3.6 cents (+79.3% YoY).</li><li>Revenue advanced 27.5% YoY to $350.0 million, supported by strong crude oil and refined product sales.</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, TP: UR*) delivered a 79.3% YoY surge in net profit to $159.2 million in its 9M’25 results, propelled by a 448.3% jump in profits from associates, notably ND Western Limited and Renaissance Africa Energy Company (RAEC).Consequently, earnings per share (EPS) rose to 3.6 cents (+79.3% YoY).Revenue advanced 27.5% YoY to $350.0 million, supported by strong crude oil and refined product sales.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 Plc - Surge in Associate Income Spurs Earnings Recovery