CWG Plc stories 423.6% surge in Q1 earnings as income from contracts soars 

CWG Plc has reported a pre-tax revenue of N2.1 billion in its just lately revealed monetary statements for the primary quarter ended 31 March 2025.

This represents a 423.64% improve in comparison with the pre-tax revenue of N415.9 million recorded in the identical interval of the earlier yr, pushed by important income progress.

The group reported first-quarter income from contracts with clients of N15.3 billion, reflecting an 82.81% improve from N8.3 billion within the prior yr.

• IT infrastructure providers accounted for the biggest share of income, contributing N6.2 billion.
• Software program income adopted carefully with N4.418 billion, whereas ‘managed and help providers’ contributed N4.415 billion. Different income sources accounted for the rest.

The corporate’s price of gross sales elevated to N11.3 billion, a 64.53% rise from N6.8 billion in Q1 2024.

• Regardless of this improve, gross revenue rose to N4.01 billion, reflecting a 166.23% year-over-year improve.

Working bills additionally grew to N1.7 billion, up 76.56% from N1 billion within the earlier yr.

• Nevertheless, working revenue, measured by EBIT, elevated to N2.2 billion, a 402.18% rise from N439.6 million in the identical quarter of 2024.

On the steadiness sheet, CWG reported complete belongings of N36.8 billion, a 23.12% improve from N29.9 billion. Retained earnings additionally grew to N4.9 billion, up 43.05% from the earlier yr.

Key Highlights:

• Income: N15.3 billion, +82.81% YoY
• Value of Gross sales: N11.3 billion, +64.53% YoY
• Gross Revenue: N4.01 billion, +166.23% YoY
• Working Bills: N1.7 billion, +76.56% YoY
• EBIT: N2.2 billion, +402.18% YoY
• Pre-tax Revenue: N2.1 billion, +423.64% YoY
• Retained Earnings: N4.9 billion, +43.05% YoY

As of the buying and selling day ended 2 April 2025, shares of CWG had been priced at N10.15, reflecting a year-to-date efficiency of +31.81% on the Nigerian inventory market.