CWG Plc posted a revenue of N9.44 billion in the nine months period of 2021, representing a 5.9% increase compared to N8.92 billion recorded in the corresponding period of 2020.
This is according to information in the company’s Q3 2021 unaudited financial statement released on the website of the Nigerian Exchange Group (NGX).
Similarly, revenue in the third quarter grew marginally by 1.3% to N3.48b billion from N3.43 billion recorded in Q3 2020.
The company reported a gross profit of N2.19 billion between January and September 2021, increasing marginally by 1.5% compared to N2.15 billion recorded in the corresponding period of 2020.
Its gross profit margin stood at 23.2% in the review period.
CWG posted EBITDA of N637.9 million in 9 months 2021.
Meanwhile, total asset surged by 30% to stand at N10.47 billion as of September 2021, while total liability also increased by 26% to N9.47 billion.
ROA stood at 3.5% in 9-month 2021.
Shareholders equity as of September 2021 stood at N989.67 million, representing a 77% surge compared to N560.21 billion recorded as of the beginning of the year. The company also increased its inventory significantly from N585.5 million as of December 2020 to N1.08 billion by the end of the review period.
A further analysis of the company’s financials shows that it spent a sum of N106.1 million in the purchase of property, plant and equipment, this is almost double the amount it spent in the corresponding period of 2020. The report also shows that it spent N45.98 million and N2.67 million on the acquisition of ROU and intangible asset respectively.
Formally known as Computer Warehouse Group, CWG Plc is a Nigerian IT company which is specialised in a wide array of IT services. These include Communication and Integrated Equipment, Managed and Support Service Segments, and Software.
The company basically supplies, installs, integrates, maintains, and provides support for computer equipment. The shares of CWG closed at N1.15 on Monday at the Nigerian stock market.