CWG Plc, Nigeria’s first ICT firm to list on the NGX, delivered an impressive first-half performance for 2025, with profit after tax rising 113 percent year-on-year to N3.56 billion, compared to N1.67 billion in the same period of 2024.
The IT solutions provider saw its revenue climb 53 percent to N36.76 billion in H1 2025, up from N24.03 billion the year before, largely driven by sustained enterprise digital transformation across banking, telecoms, and the public sector in Nigeria and Africa.
Growth in the second quarter was particularly strong, with revenue reaching N21.44 billion, up 37 percent from Q2 in 2024 and 40 percent higher than the N15.32 billion recorded in Q1 2025. This underscores a rising demand for CWG’s integrated service offerings and indicates deeper customer penetration in domestic and regional markets.
The strong earnings reflect the firm’s accelerating momentum across digital infrastructure deployment, steady service income, and a business model built for cost efficiency and scale.
Profit before tax for Q2 2025 stood at N2.51 billion, compared to N1.78 billion in the same quarter of 2024. After accounting for a tax expense of N601.3 million, the group recorded a net profit of N1.90 billion for the quarter, nearly matching Q1’s N1.66 billion performance and confirming steady profitability across both halves of the reporting period. The Q2 profit was also significantly above Q2 2024’s N1.35 billion, reinforcing the company’s strong year-on-year and quarter-on-quarter growth.
The Lagos-based firm’s total assets rose to N53.66 billion in June 2025, nearly doubling from N29.95 billion in December 2024, as the company ramped up operations to meet surging demand for digital infrastructure across key sectors. The growth was driven by sharp increases in inventories and trade receivables, reflecting an expanded and rising client activity.
CWG’s improved outlook is anchored in its evolution from a legacy hardware vendor into a complete digital infrastructure firm. A key contributor to its profit growth has been the increasing share of consistent revenue from long-term infrastructure and managed service contracts.
These steady streams enhance marginal predictability and support cash flow stability in an unpredictable inflationary climate that continually affects operating costs.
Operating efficiency has also played a vital role. While the cost of sales rose in line with revenue, CWG’s ability to manage headwinds meant that gross profit climbed from N3.30 billion in Q2 2024 to N4.31 billion in Q2 2025.
CWG’s operations remain highly scalable, absorbing cost pressures while expanding margins. Tight cost discipline across both operating and finance expenses contributed significantly to its net profit expansion.
The company’s strategic focus on platform-based services such as its proprietary solutions, BillsnPay, SMERP, and Finedge has further bolstered its value proposition across multiple sectors, positioning CWG to benefit from Nigeria’s ongoing digital shift.
With N3.56 billion in profit already delivered in the first half, CWG is on track for a record-breaking year. The consistency between Q1 and Q2 performance underscores its operational stability, while strong demand for enterprise IT and cloud services continues to provide momentum.
