CWG reports 8% drop in profit

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By Kayode Tokede

CWG Plc, Nigeria’s leading Information and Communication Technology solutions and service provider has recorded 8 per cent drop in Profit After Tax (PAT) to N87.23million in its unaudited first quarter ended March 31, 2021 from N94.75million reported in first quarter of 2020.

This is according to the company’s recent financial statement made available on the Nigerian Exchange Limited.

In its unaudited financial statement for the period showed that the largest system integration company in Nigeria, also recorded a revenue of N2.71 billion in Q1 2021 from N2.8billion in Q1 2020 and gross profit of N629.7 million in Q1 2021 from N598.7million reported in Q1 2020.