Eunisell Interlinked Plc has kicked off its 2026 financial year on a modest note, posting a 23.4% year-on-year revenue growth to N445 million in its Q1 results for the period ended September 30, 2025.
The increase was driven primarily by a ramp-up in oil and gas services, which now dominates the company’s revenue mix.
However, despite the revenue boost, the company recorded a marginal dip in profit before tax to N115.3 million, down 5.8%, reflecting rising cost pressures.
Eunisell’s pivot toward oil and gas has paid off in Q1 2026, with the segment contributing N372.6 million, or 83.7% of total group revenue, a dramatic leap from zero in the same period last year.
The shift highlights a clear business model transition, with the oil and gas segment now serving as the company’s main growth engine, replacing what was once a power-focused portfolio.
Despite strong revenue growth, Eunisell’s profitability weakened under pressure from rising operating expenses and thinner margins.
The company’s equity position improved significantly, supported by retained earnings, while total assets surpassed the N1 billion mark.
Despite a solid balance sheet, the 114.4% jump in trade receivables to N324.7 million signals rising pressure on liquidity and potential risks to cash flow.