CWG Plc., a 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 the 2018 audited financial statements.
The company’s gross revenue increased by 23.4 percent to N9.6 billion in full year of 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 operating expense of 23 percent over the 2018 financial year.
CWG Plc closed 2019 with positive earnings before interest, taxes, depreciation and amortization, at N892 million, profit before tax of N634million and ended that year with a Profit after Tax of N73 million.