EUNISELL Tops Performers with 46% Price Uptick
Eunisell Interlinked Plc recorded significant price surge of about 46% week on week in the equities segment of the Nigerian Exchange (NGX), hitting N8.20 on Friday in the local bourse.
A company that could have been bought for N617.707 million now has asking price of N1.94 billion within 52 week on high (N8.2) and Low (N2.61)
The company stock wasn’t this expensive few weeks ago until value hunters spotted prospects in taking positions in Eunisell Plc. It has been all the way to the moon for two weeks strait, gained 60% week on week previously and now added additional 46% upsurge in market value.
As the stock blazed through, Eunisell Interlinked Plc’s market valuation skyrocketed. Alpha seeking investors increased have raised their bets significantly in the service stock two week’s straight.
This strong price movement made Eunisell the most popular stock last week, in contrast to overall performance of the equities index performance. At the current market price, Eunisell valuation has climbed to N1.940 billion from N1.33 billion in the previous 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 Tops Performers with 46% Price Uptick Equities Investors Wealth Rises as Nigerian Exchange Rally
