Computer Warehouse Group Plc (“CWG” or
“the Company”) last month released its audited financial results for the year
ended December 31, 2013 to the Nigerian Stock Exchange.
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.
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 also a 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.
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