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>Transcorp Power Plc (NGX: TRANSPOWER) delivered a commendable performance in its unaudited 9M’25 results, underpinned by strong revenue growth that helped mitigate mounting cost pressures.</li><li>Profit Before Tax (PBT) and Profit After Tax (PAT) advanced to N91.2 billion (+12.4% YoY) and N68.4 billion (+17.1% YoY), respectively, translating to an earnings per share (EPS) of N9.12 (vs. N7.79 in 9M’24).</li><li>Revenue surged by 38.0% YoY to N308.5 billion, driven by broad-based growth across key revenue streams — capacity charge (+11.8% YoY) and energy delivered (+51.0% 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>

Transcorp Power Plc (NGX: TRANSPOWER) delivered a commendable performance in its unaudited 9M’25 results, underpinned by strong revenue growth that helped mitigate mounting cost pressures.Profit Before Tax (PBT) and Profit After Tax (PAT) advanced to N91.2 billion (+12.4% YoY) and N68.4 billion (+17.1% YoY), respectively, translating to an earnings per share (EPS) of N9.12 (vs. N7.79 in 9M’24).Revenue surged by 38.0% YoY to N308.5 billion, driven by broad-based growth across key revenue streams — capacity charge (+11.8% YoY) and energy delivered (+51.0% 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.

Transcorp Power Plc - Solid Topline Growth Masks Cost Pressures