CWG Plc has reported a pre-tax profit of N7.8 billion for the 2025 financial year, representing a 78.4% increase from the N4.4 billion recorded in the previous year.
According to its audited financial statements filed on the Nigerian Exchange, the company’s performance was largely driven by revenue growth, which increased to N65.5 billion, representing a 41.4% year-over-year rise.
A breakdown of revenue shows IT Infrastructure services led with N23.5 billion, followed by software sales at N21.3 billion, while managed support services contributed N18.7 billion.
Consequently, the company has declared a final dividend of 70 kobo per share, up 79% year-on-year, payable to shareholders on April 17, 2026.
Key highlights (2025 vs 2024)
- Revenue: N65.6 billion (+41.4% YoY)
- Cost of sales: N49.6 billion (+36.1% YoY)
- Gross profit: N15.9 billion (+61.1% YoY)
- Other income: N598.1 million (+151.8% YoY)
- Administrative expenses: N8.4 billion (+47.6% YoY)
- Operating profit: N7.5 billion (+69.0% YoY)
- Finance income: N421.2 million (+572.4% YoY)
- Pre-tax profit: N7.9 billion (+78.4% YoY)
- Profit after tax: N5.0 billion (+63.4% YoY)
- Earnings per share (Kobo): 1.97 vs 1.21
Driving the Numbers
A closer look at the company’s audited statement shows that the cost of sales stood at N49.6 billion, bringing gross profit to N15.9 billion, compared to N9.8 billion in the prior year.
- Other income rose sharply to N598 million, up 151.8% year-on-year, with sundry income accounting for nearly all of the reported figures.
- Less favourably, administrative expenses increased to N8.4 billion from N5.7 billion, largely driven by staff costs, which accounted for about N4 billion.
Exchange losses were recorded at N605.2 million, compared to a gain of N18.7 million in the previous year, resulting in operating profit settling at N7.5 billion, up 69.0%.
- Furthermore, finance costs declined to N61.1 million from N95.5 million, and after accounting for finance income of N421.2 million, pre-tax profit came in at N7.8 billion, up 78.4%.
- This translated to a post-tax profit of N4.9 billion, after accounting for an income tax expense of N2.9 billion.
On the balance sheet, total assets rose to N39.9 billion, up 33.4%, driven mostly by trade and other receivables, while retained earnings increased to N7.4 billion. Total liabilities climbed to N31 billion from N23.3 billion.
Market reaction
Although the market is yet to react positively to the audited results, the company’s stock is up over 15% year-to-date on the Nigerian equities market, trading at N20.75 per share ahead of the March 25, 2026 market open.
