INTERLINKED TECHNOLOGIES' 2016 CROSS

Interlinked Technologies plc bore a cross in financial year to June that almost broke its back: Drop in earnings.

According to the audited figures released last week, total income dropped by 20.3% to N209m as core revenue went down by 20.1% and income from other sources dried up altogether.

To make matters worse, finance cost increased by 41.3% to N0.65.

Hence much as Interlinked Technologies had good control over its cost, its profit before tax tumbled by 71.5% to N2.6m

Yet, it did score rather well in operating cost management driving it down by 19.5% to N45m. But  it was not as successful in controlling direct cost because at 18.1% the decrease in cost of sale did not match income drop.

In the end, Interlinked Technologies ended the year with only N1.24 gain on each N100 income as against N3.48 in 2015 year.

As the company thus ended the year nearer the loss league, its liquidity position also weakened slightly as working capital stood at N248.7m compared to N255.2m previously.

INTERLINKED TECHNOLOGIES;
                Nm Full year.
                            2016.         2015
Total income    209.0.         262.1
Core revenue.   209.0          261.6
Cost of sale.    160.8.          196.3
Other income.    -                  0.26
Operating exp.  45.0.          55.9
Finance cost     0.65.          0.46
Profit b4 tax       2.60.         9.12
Profit margin %  1.24.         3.48
Working capital 248.7.      255.2

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