Eunisell Interlinked plc reports 161% revenue surge

Eunisell Interlinked Plc., provider of electrical and electronic solutions, has announced a 161 percent increase in revenue for the fiscal year ending June 30, 2024.

In its recently filed audited financial statement with the Nigeria Exchange Limited, the company revealed that its revenue rose to N722 million in 2024 from N277 million in the previous year.

Profit after tax rose by 1,000 percent, jumping from N8.8 million in 2023 to N100 million reported in June 2024.

“The strong performance in revenue generation and net income for the fiscal year was achieved through innovative, customer-focused service delivery and the effective execution of our core activities,” stated Chris Okoro, the company’s CEO.

“Some of the services include the development, installation, commissioning, sales, and marketing of high, medium, and low voltage electrical equipment and cables.”

He noted that this growth trajectory underscores the company’s commitment to quality and a customer-centric service approach. He said that the company intends to broaden its customer base and enhance its technology investments in the coming year.

Eunisell Interlinked Plc., which offers high-quality integrated engineering and technology systems to clients in the oil & gas, industrial, infrastructure, and power sectors, also recorded exceptional results across various key performance indicators.

In 2024, profitability margins demonstrated significant growth, with the Net Profit Margin rising to 13.85% from 3.19% in the 2023 financial year. Furthermore, the Return on Capital Employed (ROCE) increased to 44.24 percent, up from 4.66 percent reported in the previous year. The company’s liquidity position remained robust, with Current Assets approximately double the Current Liabilities.

Earnings per share also rose in the 2024 fiscal year, climbing to 42.28 (kobo) from 3.74 (kobo) reported in 2023.