EUNISELL Hits Fresh 52-Week High, Rises by 734%
Eunisell Interlinked Plc skyrocketed by about 61% as investors kept taking positions in the technology services company. From N11.99 at the start of the week, the market price of Eunisell Interlinked shares increased to N19.27 on the Nigerian Exchange.
The technology services company, whose share was priced at N2.31, has seen a significant gain of more than 734% above its 52-week low. The equities market reset the company’s value on investors’ expectations of earnings growth.
The company that was priced at less than N1 billion has surged to about N4.6 billion on the Nigerian Exchange on expectation of improved earnings growth.
Traded volume of Eunisell Interlinked Plc has been significant; the strong buying interest has continued to boost the company’s share price.
Eunisell Interlinked Plc will hold a shareholders meeting on November 26 to lay before the members the company’s audited financial statement ended June 2024. Its major shareholder, Boussole Integrated Limited, owns 63.47% of the technology services company as of June 2024.
Boussole Integrated Limited onws the largest shareholding of 63.47% at the reporting date. A greater proportion of the remaining 36.53% shares are largely held by directors of the company, according to details from its audited financial statement.
In 2023, Eunisell Interlinked Plc revenue grew by 161% year on year to settle at N722.5 million at the end of June, 2024, from N277.144 million in the comparable period.
Operating expenses of the company grew 41% year on year to N120.716 million from N85.857 million 12 months earlier.
On a year-on-year basis, Eunisell profit before tax grew by 1325% to N131.557 million from N9.23 million in the comparable period in June 2023. At 100.071 million, its profit after tax was 1032% year on year above N8.843 million posted in the comparable period.
Eunisell Plc grew net assets to N889.77 million, up from N635.853 million in the prior year.
In its regulatory filing, the company noted that management has developed key strategic initiatives that aim at returning the company to profitability and improving working capital and cash flows. #EUNISELL Hits Fresh 52-Week High, Rises by 734% Naira Plunges on Suboptimal FX Intervention
