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.

Thematic (Sector/Industry)

Nigeria Building products / Thematic (Sector/Industry)

<ul><li>The topline performance for the cement industry in H2'24 is biased to the upside, as public sector demand remains robust, stemming from the Renewed Hope Infrastructure Development Fund (RHIDF) and other government-led infrastructure projects.</li><li>In addition, the elevated pricing environment will serve as an accretive benefit.</li><li>Elsewhere, with severe cost pressures projected to linger in 2024 due to higher energy &amp; haulage costs, FX losses, and reversion to a higher effective tax rate for cement players, margins are likely to be pressured.</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>

The topline performance for the cement industry in H2'24 is biased to the upside, as public sector demand remains robust, stemming from the Renewed Hope Infrastructure Development Fund (RHIDF) and other government-led infrastructure projects.In addition, the elevated pricing environment will serve as an accretive benefit.Elsewhere, with severe cost pressures projected to linger in 2024 due to higher energy &amp; haulage costs, FX losses, and reversion to a higher effective tax rate for cement players, margins are likely to be pressured.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.

Cement - Public Demand to Boost Topline Amid Cost Pressures