CWG Plc targets empowerment of African entrepreneurs, records 81% growth

The company’s Group CEO, Austin Okere made the remarks while reacting to the release of its audited financial results for the year ended December 31, 2013 to the Nigerian Stock Exchange.According to him, the results which showed a strong and positive performance across all financial indices also affirm the company’s position as the foremost Pan […]

The company’s Group CEO, Austin Okere made the remarks while reacting to the release of its audited financial results for the year ended December 31, 2013 to the Nigerian Stock Exchange.
According to him, the results which showed a strong and positive performance across all financial indices also affirm the company’s position as the foremost Pan African ICT services provider.  He disclosed that the company’s revenues grew by 10% to N20.7bn (2012: N18.7bn) while Profit After Tax increased by a whopping 81% to N618m (2012: N339m) showing strong efficiency of operations.
Okere explained that the result revealed a Return on Equity of 13% in 2013, as against 11% in 2012 and Returns on Capital Employed (ROCE) of 13% against 7% in 2012.    
The group CEO informed further that the Company’s Asset increased by N2bn to N13.4bn as at 2013 year end, while Shareholders’ equity increased by a remarkable 66% to N5.0bn in the same period.
He said, “The Company finished with a strong cash position of over N1.1bn at the year end, with a 38% increase in cash from operation over 2012.  Based on this improved performance, the directors have recommended a 33% increase in dividend to 8k per share (2012; 6k).”