Computer Warehouse Group Plc [“CWG Plc“], has reported a post-tax profit of ₦3.0 billion for the 2024 financial year, marking a 428% increase from the ₦576.0 million recorded in 2023.
According to the company’s 2024 financial statement filed with the Nigerian Exchange, revenue grew by 97% to ₦46.4 billion, up from ₦23.5 billion in the previous year. Profit before tax also saw a sharp rise of 290.23%, reaching ₦4.4 billion compared to ₦1.1 billion in 2023.
The company’s total assets increased by 68.09% to ₦29.9 billion, up from ₦17.8 billion in 2023. Finance income surged by 316.13% to ₦62.6 million, compared to ₦15.05 million in the previous year.
Gross profit doubled, rising 108% to ₦9.8 billion from ₦4.7 billion. Meanwhile, earnings per share (EPS) jumped by 426.15% to ₦1.21 from ₦0.23.
However, total liabilities increased by 49.8% to ₦29.9 billion, up from ₦17.8 billion, while finance costs rose by 13.53% to ₦95.5 million, compared to ₦84.1 million in 2023.
CWG Plc has declared a dividend of 39 kobo per share, subject to shareholder approval and applicable withholding tax.
The dividend will be paid to shareholders whose names appear in the Register of Members at the close of business on Monday, April 7, 2025.
Shareholders with incomplete e-dividend registrations are advised to complete the process and submit the required details to the Registrar or their respective banks.
