Eunisell Interlinked Grows Revenue By 800% To N360m In Q1

Eunisell Interlinked Plc has reported an 800 per cent increase in its revenue, reaching N360 million in the first quarter of 2024.

The company released its financial results for the first quarter ending September 30, 2024, showing significant improvements in key metrics.

The unaudited financial statement filed with the Nigeria Exchange Limited reports a revenue increase to N360 million, up from N43 million in the same period last year, reflecting an 800 per cent rise.

The company also reported a profit after tax (PAT) of N122 million, compared to a loss of N4.6 million in the first quarter of 2023.

Eunisell Interlinked, which provides integrated engineering and technology solutions to industries such as oil and gas, infrastructure, power, and manufacturing, saw its net profit margin rise to 34 per cent, reversing the negative position in Q1 of 2023.

Return on Capital Employed (ROCE) increased to 29 percent, up from a negative figure in the same period last year.

The company’s liquidity remains stable, with current assets exceeding current liabilities. Earnings per share (EPS) improved to N1.03, reversing the negative EPS recorded in the first quarter of 2023.

Chris Okoro, CEO of Eunisell Interlinked, noted that the results reflect ongoing efforts to manage costs and focus on customer needs.

He explained: “This performance is a clear reflection of our commitment to operational efficiency and delivering value to our customers.

“Over the past few quarters, we’ve focused on refining our processes, ensuring that we maintain high standards in service delivery while carefully managing our cost base.

“Our results demonstrate the effectiveness of these strategies, as well as the resilience of our business model.

“As we move into the next quarters, we are determined to build on this momentum. We plan to expand our customer base, particularly in sectors where we see long-term growth potential.

“At the same time, we are increasing our investments in technology, which will allow us to enhance our service offerings and better meet the evolving needs of our clients.

“Our goal is not just to grow, but to grow sustainably, while continuously improving our operational efficiency,” Okoro said.

Eunisell Interlinked’s services include the development, installation, and sale of electrical equipment and cables across various voltage levels.