In 2024, CWG Plc, an integrated ICT solutions provider, reported outstanding financial results, significantly increasing its pre-tax profit and revenue while strengthening its financial position.
Financial Results
CWG Plc reported an increase in pre-tax profit to N4.4 billion, marking a 290.24% rise from the previous year. The company's full-year revenue reached N46.3 billion, representing a 97% increase. Notable contributions come from diverse business segments: software solutions generated N16.4 billion, managed services — N14.5 billion, and IT infrastructure — N12.7 billion. Total gross profit grew to N9.8 billion amid increasing sales and operating expenses.
Assets and Dividends
CWG Plc's assets grew by 68.09%, reaching N29.9 billion. The company announced a final dividend of 39 kobo per share for the financial year ended December 31, 2024, with dividend distribution scheduled for April 11, 2025.
Future Prospects
CWG Plc continues to focus on digital transformation, planning to maintain growth momentum through further investments in technology and strategic partnerships. The company aims to strengthen its position within the ICT market.
CWG Plc has demonstrated a successful management strategy amid rising operational costs and by diversifying income sources. The company is well-positioned to further consolidate its standing in the ICT sector.
