Eunisell Interlinked Plc, providers of power engineering and technology solutions, has reported its highest half-year profit on record since the company started publishing its financial results in 2012.
The company which offers cable accessories and machine spare parts, as well as servicing, installation, commissioning, engineering, supplying products to industries and companies grew its six months profit to N14.52 million in the period to June 2021 on the back of revenue growth and decline in operating expenses.
The half-year profit was 44 percent higher than the N10.1 million recorded in the corresponding period of 2020, as gathered from the company’s financials. The half-year profit reported in the first six months of this year is the highest in nine years.
Read also: Access, GTB, Zenith generate most return for shareholders in half-year
Eunisell Interlinked had reported a loss of N107.76 million in half-year 2019 after the N1.76 million profit in 2018 and a loss of N9.21 million in the same period of 2018.
The H1 2021 performance of the company which serves power, oil and gas, manufacturing, and infrastructure sectors worldwide was supported by a 35 percent growth in revenue to N225.55 million from N166.99 million in the comparable period of 2020.
The company’s operating expense was down by 18 percent in the review period to N57.79 million in June 2021 from N70.85 million in the same period of the previous year.
Meanwhile, the total asset reported by Eunisell Interlinked in the period under review stood at N651.25 million, 38 percent increase when compared to the N471.16 million recorded in the preceding year.
Eunisell Interlinked’s earnings per share also increased to N6.13 in June 2021, a 44 percent jump when compared to N4.27 reported in the previous year.
Meanwhile, the company had changed its name in June 2021 from Interlinked Technologies Plc to Eunisell Interlinked Plc as approved by the company’s shareholders at its Annual General Meeting held on 10 December 2020 and implemented by the Nigerian Exchange Group (NGX).
