The results
show a strong and positive performance across all financial indices and also
affirm the Company’s position as the foremost Pan African ICT services provider.
The Company’s
revenues grew by 10% to N20.7bn (2012: N18.7bn) while Profit After Tax increased
by a whopping 81% to N612m (2012: N339m) showing strong efficiency of
operations. Continue..
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 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.
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)
Austin Okere,
the group CEO, whilst reviewing the results commented that CWG used 2013 to
consolidate her operations by investing in new systems and processes which has
culminated in the cost efficiencies which has, in turn, resulted in the
percentage growth in her bottom line.
This shall give CWG a cost leadership position whilst delivering
superior service to its customers. According to him, we shall continue to make
investments that would make CWG a global brand to behold.
The focus in
the future would be to continue growing the brand through initiatives directed
towards empowering the African entrepreneur. This would be done by making IT
available to SME’s on a subscription basis, thereby lowering the entry barriers
to the use of information technology. It is alsoa social impact investment
Okere further
noted that CWG, aside from consolidating its base in Uganda and Cameroun, will
also make some acquisitions in the near future as part of its Pan African
growth strategy. This would have an overall impact on its brand equity.
We hope to
further tap into the growth potentials of emerging African economies thus
bringing us closer to our philosophy of being the number 1 IT utility enabler
in Africa.
Read more - http://www.cwg-plc.com/
12 comments:
That's good business, congratulobia to them
Your comment will be visible after approval
Wow! That's huge turnover. ⌣̊┈̥-̶̯͡»̶̥♡thanks ⌣̊┈̥-̶̯͡»̶̥
K. NEXT?
Huge turnover...wow.
Nigeria is open for business. You guys, especially the young ones, should take advantage of this boom. Instead of writing 419 emails, wrap up your business idea into a solid presentable proposal and get it endorsed by a reputable bank or govt agency. There are investors abroad looking for credible and reliable routes into investing in Nigeria. Growth in uk is under 1% and they are patting themselves on the back. Growth in Nigeria is over 5%. DO YOU WANT TO BE THE NEXT DANGOTE/ADENUGA OR THE NEXT ADE BENDEL(ie if you don't die or get jailed in the process of 419).
Think!!!
I hope those figures are true. Who audits their accounts?
Yaaay..my former company. I see Mr Austin Okere going places. Hope they have stepped up pay sha. It used to be quite poor. Kudos Oga
Diggah thanks for that comment. Linda please post more inspiring and thought provoking posts... Our leaders are busy playing with brooms and umbrellas...
LOVE ME A SHARP IBO MAN
turnover is huge but low profit. Something is wrong
The Igbo guys have done well.
Austin Okere, Philip obioha and James agada well done.
These guys are doing well but how come na only Austin we dey see. Other partners nko.
Post a Comment