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 9M'25 unaudited results, Seplat Energy Plc (NGX: SEPLAT, TP: N8,297.63) reported a robust 169.8% YoY growth in profit after tax (PAT) to $95.1 million, driven by a solid topline performance.</li><li>Revenue surged by 204.3% YoY to $2.2 billion, underscoring the company's strong operational execution and efficiency gains.</li><li>The impressive revenue growth was supported by higher workinginterest production volumes, which averaged 135.6 kboepd (vs. 47.5 kboepd in 9M'24). </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 9M'25 unaudited results, Seplat Energy Plc (NGX: SEPLAT, TP: N8,297.63) reported a robust 169.8% YoY growth in profit after tax (PAT) to $95.1 million, driven by a solid topline performance.Revenue surged by 204.3% YoY to $2.2 billion, underscoring the company's strong operational execution and efficiency gains.The impressive revenue growth was supported by higher workinginterest production volumes, which averaged 135.6 kboepd (vs. 47.5 kboepd in 9M'24). 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 - Operational Efficiency Drives PAT Expansion

SEPLAT Energy

Seplat Energy Plc - Operational Efficiency Drives PAT Expansion