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>Dangote Cement Plc (NGX: DANGCEM, TP—UR) has reported a 173.1% YoY surge in earnings to N520.5 billion for H1'25, outperforming its FY'24 earnings.</li><li>The growth was primarily supported by improving prices in the Nigerian segment, slower cost growth, and FX gains recorded for the half, which offset the weakness in the Pan African segment.</li><li>Revenue rose by 17.7% YoY to N2.1 trillion, driven by a 46.2% YoY increase in average revenue per tonne in the Nigerian segment to N161,136.</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>

Dangote Cement Plc (NGX: DANGCEM, TP—UR) has reported a 173.1% YoY surge in earnings to N520.5 billion for H1'25, outperforming its FY'24 earnings.The growth was primarily supported by improving prices in the Nigerian segment, slower cost growth, and FX gains recorded for the half, which offset the weakness in the Pan African segment.Revenue rose by 17.7% YoY to N2.1 trillion, driven by a 46.2% YoY increase in average revenue per tonne in the Nigerian segment to N161,136.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.

Dangote Cement Plc - Home Advantage Masks Regional Strain