CWG Plc has reported a pre-tax profit of N2.1 billion in its recently published financial statements for the first quarter ended 31 March 2025.
This represents a 423.64% increase compared to the pre-tax profit of N415.9 million recorded in the same period of the previous year, driven by significant revenue growth.
The group reported first-quarter revenue from contracts with customers of N15.3 billion, reflecting an 82.81% increase from N8.3 billion in the prior year.
The company’s cost of sales increased to N11.3 billion, a 64.53% rise from N6.8 billion in Q1 2024.
Operating expenses also grew to N1.7 billion, up 76.56% from N1 billion in the previous year.
On the balance sheet, CWG reported total assets of N36.8 billion, a 23.12% increase from N29.9 billion. Retained earnings also grew to N4.9 billion, up 43.05% from the previous year.
As of the trading day ended 2 April 2025, shares of CWG were priced at N10.15, reflecting a year-to-date performance of +31.81% on the Nigerian stock market.