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>Nigerian Breweries Plc (NGX: NB, TP: UR) delivered a solid performance in its audited H1'25 results, underscoring its ability to maintain a strong growth trajectory.</li><li>The performance was driven by robust revenue growth, improved cost efficiency, and minimal FX losses.</li><li>Revenue grew by 53.9% YoY on the back of increased pricing and volumes during the period. </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>

Nigerian Breweries Plc (NGX: NB, TP: UR) delivered a solid performance in its audited H1'25 results, underscoring its ability to maintain a strong growth trajectory.The performance was driven by robust revenue growth, improved cost efficiency, and minimal FX losses.Revenue grew by 53.9% YoY on the back of increased pricing and volumes during the period. 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.

Nigerian Breweries Plc  - Operating Profit Surges over 200% in H1’25