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>In its H1’25 unaudited financials, Aradel Holdings Plc (NGX: ARADEL — BUY, TP: N845.35) reported a 50.8% YoY increase in net income, driven by the consolidation of earnings from the RAEC and ND Western operations.</li><li>This was reflected in a $46.0 million contribution under ‘Share of profit of an associate,’ which helped lift PAT to $94.5 million.</li><li>Consequently, EPS doubled to $2.1 cents (+99.8% YoY)</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>

In its H1’25 unaudited financials, Aradel Holdings Plc (NGX: ARADEL — BUY, TP: N845.35) reported a 50.8% YoY increase in net income, driven by the consolidation of earnings from the RAEC and ND Western operations.This was reflected in a $46.0 million contribution under ‘Share of profit of an associate,’ which helped lift PAT to $94.5 million.Consequently, EPS doubled to $2.1 cents (+99.8% YoY)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 - Robust Income from Associate Drive PAT Expansion