CWG Plc posts N4.4 billion full-year pre-tax profit, declares final dividend 

This represents a 290.24% year-over-year increase compared to the N1.1 billion reported the previous year.

The group’s full-year revenue reached N46.3 billion, a 97% year-over-year increase compared to N23.5 billion reported the previous year.

The group’s total assets increased to N29.9 billion, up 68.09% year-over-year compared to N17.8 billion reported the previous year, while retained earnings rose to N3.4 billion, up 330.55%.

CWG also announced a final dividend of 39 kobo per share, subject to appropriate withholding tax and approval, for the period ended 31st December 2024. The dividend will be paid to shareholders whose names appear in the Register of Members as of the close of business on Monday, 7th April 2025.

CWG reported a full-year revenue increase of 97%, reaching N46.3 billion, compared to N23.5 billion in 2023.

At the same time, CWG’s cost of sales rose by 94.13%, totaling N36.4 billion, up from N18.7 billion in 2023.

Other income also saw significant growth, increasing by 82.96% year-over-year to N237.5 million, with sundry income making up most of this total at N199.1 million.

On a more positive note, the company realized an exchange gain of N18.7 million, a recovery from the loss of N182 million reported the previous year.

In contrast, finance income surged to N62.6 million, climbing by 316.13% compared to the previous year, primarily driven by interest income.

Ultimately, CWG’s pre-tax profit grew by 290.24% year-over-year, reaching N4.4 billion, up from N1.1 billion in the prior year.

The group’s total assets rose to N29.9 billion, marking an increase of 68.09% year-over-year from N17.8 billion reported the previous year.