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 this report, we factor in the impact of the consolidation of Seplat Energy Producing Nigeria Unlimited (SEPNU) on the performance of Seplat Energy Plc (SEPLAT).</li><li>This report is supported by SEPLAT's Q1'25 unaudited financials, which also capture the impact of the consolidation.</li><li>In particular, reported profit after tax came in at $23.3 million (vs a net loss of $1.9 million in Q1'24), aided by a volume-induced 350.0% YoY surge in revenue to $809.3 million.</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 this report, we factor in the impact of the consolidation of Seplat Energy Producing Nigeria Unlimited (SEPNU) on the performance of Seplat Energy Plc (SEPLAT).This report is supported by SEPLAT's Q1'25 unaudited financials, which also capture the impact of the consolidation.In particular, reported profit after tax came in at $23.3 million (vs a net loss of $1.9 million in Q1'24), aided by a volume-induced 350.0% YoY surge in revenue to $809.3 million.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.

Seplat Energy Plc Company Update - SEPNU Integration to Drive Robust Earnings in FY’25

SEPLAT Energy

Seplat Energy Plc Company Update - SEPNU Integration to Drive Robust Earnings in FY’25