May 28, 2022

SB-Accounting

Accounting + Finance Blog

INTERLINKED TECHNOLOGY ANNUAL REPORT SHOWS POSITIVE WORKING CAPITAL

Shares
INTERLINKED TECHNOLOGY ANNUAL REPORT SHOWS POSITIVE WORKING CAPITAL



Interlinked Technologies PLC an electrical developement, manufacturing and marketing company released its annual report for the year ended 30th June, 2016.

The result shows a 20 per cent fall in revenue of N209,049,000 from N261,049,000 comparative figure for June 2015.

The pretax profit fall from N9,123,000 in June 2015 to N2,596,000 for June 2016. This may be due to the current economic condition in Nigeria.

The Profit After Tax (PAT) is recorded as N1,052,000 for 2016 which is a more than marginal fall of the previous year figure N6,170,000. The Earnings Per Share (EPS) is N0.44 per share for June 2016 and N2.61 per share for the corresponding period of June 2015. This represent a 83 per cent fall per share.

However, the working capital and current ratio figure shows strong stability for the company. The company has a working capital figure of N62,673,000 and N75,367,000 for June 2016 and 2015 respectively.

READ ON  Capital Oil Makes Negative EPS for Five Years

Furthermore, there was an increase in the current ratio figure. The current ratio for June 2015 is 1:1.07 but for June 2016 is was 1:1.17.

The company is therefore a going concern and very healthy despite the present economic crisis in Nigeria

Copyright 2020 @ Myfinancein

Shares