CWG Plc, the Pan-African Information and Communications Technology Company and Nigeria’s largest system integration company has released its audited full-year financial statement for the period ended December 2019.
The results showed positive improvements from 2018 audited financial statements, as it increased its gross revenue by 23.4 percent to N9.6 Billion in FY 2019 from N7.8billion in 2018. However, Net Assets grew by 67.4 percent to N192million from N115million in the previous year.
The growth in revenue and profit was achieved with a reduced OPEX of 23 percent over 2018 financial year. CWG Plc 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.