CWG Plc (CWG) recorded a decline in its 2020 FY pre-tax profit, as total revenue increased.
CWG Plc – an ICT Solutions company – reported pre-tax profit of N546.24 million in 2020 FY compared to N634.01 million recorded in the same period of 2019 – a 13.84% decline.
Key highlights for 2020 FY
- Revenue increased to N11.81 billion, +23.4% YoY.
- Other income declined to N37.27 million, -96.73% YoY.
- Cost of sales increased to N9.16 billion, +26.45% YoY.
- Operating expenses declined to N1.8 billion, -24.40%YoY.
- Interest and finance charges increased to N89.87 million, +22.91% YoY.
- Pre-tax profit declined to N564.24 million, -13.84% YoY.