Eunisell Soars by 46% Ahead of Shareholders Meeting
An engineering and technology solution company, Eunisell Interlinked Plc, has surged further with more than 46% price appreciation over the last five trading session on the Nigerian Exchange.
Transaction details revealed that the technology services company share price is becoming more expensive each day for new entry compared with investors who had taken an early positions.
The increased demand for the company stock has caused market to rerate its valuation higher to N11.99 per share from N8.20 in the comparable week. This lifted the tech solution company’s market value to about N2.84 billion, spread over its about 344 million shares outstanding on the Nigerian Exchange.
Shareholders to Meet.
The company’s annual general meeting has been schedule for Nov 2024 to lay before the shareholder 2023 audited financial report. 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 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.
Q1 Earnings Performance
Eunisell Interlinked Plc gained momentum after the company’s first quarter ended Sept 2024 earnings released. Eunisell Plc returned to profitability in the period.
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
