CWG Plc, a Nigerian technology company, generated N15.5 billion from its IT infrastructure services segment in the first half of 2026, according to its unaudited financial statement released to the Nigerian Exchange (NGX) on August 19, 2026. This figure represents 74% of the company's total revenue for the period.
Revenue Breakdown and Performance
The company's total revenue for H1 2026 stood at N20.9 billion, marking a 12% increase compared to N18.7 billion recorded in the same period of 2025. The IT infrastructure services segment, which includes hardware sales, network installations, and data center solutions, contributed the lion's share at N15.5 billion, up from N14.1 billion in H1 2025.
Other revenue streams include software services, which brought in N3.2 billion, and managed services, which contributed N2.2 billion. The company's gross profit for the period was N6.8 billion, representing a gross margin of 32.5%, compared to N5.9 billion and 31.6% in the prior year.
Profitability and Cost Management
CWG reported a profit after tax of N2.1 billion for H1 2026, a 15% increase from N1.8 billion in H1 2025. The company attributed this growth to improved operational efficiency and cost management strategies. Operating expenses rose moderately to N4.5 billion from N4.1 billion, reflecting disciplined spending despite inflationary pressures.
According to the company's statement, the increase in revenue was driven by higher demand for IT infrastructure solutions from both public and private sector clients. The company noted that its order book remains robust, with several multi-year contracts secured in the first half of the year.
Segment Analysis and Outlook
The IT infrastructure services segment remains the primary revenue driver for CWG, accounting for nearly three-quarters of total income. The company's software services segment grew by 8% to N3.2 billion, while managed services saw a 5% increase to N2.2 billion. The company's earnings per share (EPS) for the period stood at N0.40, up from N0.35 in H1 2025.
Looking ahead, CWG Plc expects continued growth in its IT infrastructure business, supported by ongoing digital transformation initiatives across Nigeria's corporate and government sectors. The company plans to invest further in cloud computing and cybersecurity solutions to diversify its revenue base and capture emerging market opportunities.
The company's total assets as of June 30, 2026, were N32.5 billion, up from N28.9 billion at the end of 2025. Cash and cash equivalents stood at N4.8 billion, providing the company with sufficient liquidity to fund its operations and expansion plans.
