Finance

CWG Ends 2019 Financial Year with gross revenue increase of 23.4%

CWG - cfamedia

Nigeria’s largest system integration company, CWG Plc has increased its gross revenue by 23.4 percent, representing N9.6billion from N7.8billion in 2018 in the 2019 audited full-year financial results.

The Pan-African Information and Communications Technology Company, which was listed on the Nigerian Stock Exchange (NSE) a few years ago, also showed a Net Assets growth of 67.4 percent to N192million from N115million in the previous year.

This growth, according to reports was achieved with a reduced OPEX of 23 percent over the 2018 financial year.

The reports disclosed that CWG Plc also closed 2019 with a positive EBITDA at N892million, PBT N634million and ended that year with a Profit after Tax of N73 million.

CWG Plc is one of Nigeria’s leading players in the Hardware and IT enterprise solution industry.

As part of its efforts to step up its operational value, it got its shares listed on the Nigerian stock exchange a few years ago.


Featured Image: Adewale Adeyipo, Chief Executive Officer of CWG Plc


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