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Tuesday, May 26, 2020

CWG: 2019 financial year ends with gross revenue 23.4% rise - ITREALMS

ITREALMS:

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

Sources close to the Pan-African Information and Communications Technology (ICT) company, informed 
ITREALMS that the firm listed on the Nigerian Stock Exchange (NSE) a few years ago, has 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.
ITREALMS recollects that 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.

Nenye Dom/Editor

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