EUNISELL Hits 52-Week High after 61% Price Surge
Eunisell Interlinked Plc climbed all the way to the moon on the Nigerian Exchange (NGX), gaining about 61% week on week due to investors increased demand for service stock.
Strong price movement made Eunisell the most popular stock on the Nigerian Exchange last week, in contrast to overall performance of the equities index.
Price per share increased to N5.62 on the trading platform from N3.50 at the beginning of the week. This translates to N501.80 million valuation surge in the period.
At the current market price, Eunisell valuation has climbed to N1.33 billion spread over its 237 million outstanding shares in the local bourse.
In its unaudited financial statement for the first quarter ended Sept 2024, Eunisell Interlinked returned to profitability with N122 million net income, versus N4.561 million loss in the comparable period.
Its earnings performance was propelled by significant increase in top line performance. Eunisell Interlinked revenue inched higher to about N361 million in Q1, which was more than 720% above N44 million the company posted 12 month earlier.
In line with inflationary conditions and increased activities level, costs of sales surged to N191.88 million, up by 763% year on year from N22.229 million in the equivalent period.
Its margin thinned out as cost grew faster than revenue growth. Its operating expenses increased significantly, up by 88% year on year to N38.279 million from N20.581 million.
Eunisell Interlinked’s unaudited financial statement revealed that the company’s pretax profit was N122.378 million from net loss of N4.561 million 12 months ago. Its zero tax expenses record kept profit after tax and pretax profit at the same level #EUNISELL Hits 52-Week High after 61% Price Surge Stanbic IBTC Adds Fixed Income Asset into Securities Lending Services
