CWG Plc delivered a stellar financial performance in the first quarter of 2025, reporting a pre-tax profit of ₦2.1 billion, a staggering 423.64% increase from ₦415.9 million in Q1 2024. This outsized earnings growth was driven by robust expansion across its service verticals, affirming the company’s strategic positioning in Nigeria’s digital transformation space.
Total revenue jumped by 82.81% year-on-year to ₦15.3 billion, compared to ₦8.3 billion in the same period last year. The bulk of this revenue was derived from IT infrastructure services (₦6.2 billion), followed by software sales (₦4.42 billion) and managed & support services (₦4.42 billion)—showcasing balanced momentum across core business segments.
Despite a 64.53% rise in cost of sales to ₦11.3 billion, gross profit nearly tripled, advancing 166.23% to ₦4.01 billion. This signals improved pricing power and service efficiency.
Operating profit (EBIT) rose by 402.18% to ₦2.2 billion, as the company effectively scaled its revenue ahead of rising expenses. While operating expenses increased by 76.56% to ₦1.7 billion, it remained well-contained relative to topline growth.
Key Highlights:
- Revenue: ₦15.3 billion (+82.81% YoY)
- Gross Profit: ₦4.01 billion (+166.23% YoY)
- Operating Profit (EBIT): ₦2.2 billion (+402.18% YoY)
- Pre-tax Profit: ₦2.1 billion (+423.64% YoY)
- Retained Earnings: ₦4.9 billion (+43.05% YoY)
- Total Assets: ₦36.8 billion (+23.12% YoY)
The balance sheet also showed strength, with total assets rising to ₦36.8 billion and retained earnings improving by 43.05% to ₦4.9 billion—a strong buffer for future investments and shareholder returns.
Conclusion:
CWG Plc's Q1 2025 performance reflects a high-growth, high-efficiency operating model that is successfully capitalizing on Nigeria’s increasing demand for enterprise technology. With triple-digit earnings growth, margin expansion, and a well-diversified revenue base, the company is firmly positioned for sustained upward momentum through the rest of the fiscal year.
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