CWG targets N16.5bn revenue, N300m profit in FY 2014

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By Alex C

Computer Warehouse Group Plc is targeting revenue of N16.5bn and profit after tax of N300m for the current financial year.  Austin Okere, founder/chief executive officer of CWG, said the Company plans to further execute and recognise revenues from the traditional brick and mortar business which shall see a 46 percent increase in revenue from quarter third quarter (Q3) numbers to N16.5bn by year end, and a correspondingly higher 61 per cent increase in profit after tax to N300m.

“This reflects a continuing improvement in margins with a greater efficiency in our operations, and good focus on the growth of our managed services. The company is firmly focused on scaling her new subscription businesses, under the CWG2.0 umbrella, in order to see a change in the profitability trend by half of 2015,” Okere said.

According to him, the Group has made great strides in the introduction of its new subscription based business lines.

“The first amongst them, the SMERP, a cloud-based ERP product is ready for roll out and is currently being tested by a few organisations.  There are also on-going discussions with multilateral organisations, focused on SMEs and achieving inclusive growth in Nigeria, to collaborate on the roll out of this product,” he said.

He added that there is also the flagship e-commerce technology platform, Openshopen.ng, a product, he said, was running a beta test with a few organisations, with the plan for a mass rollout in the first quarter of 2015.

“There is also the free to air services which the group will be offering in collaboration with the second largest satellite provider in Europe. This service would launch with 30 TV channels and is planned to be launched in quarter 4, this year. CWG’s smart grid solution to Electricity distribution Companies (DISCOS) is at POC stage with two of the largest Discos in Nigeria and we expect that this new line of business will be at implementation stage by Q3 2015,” he said.

According to him, CWG will continue to focus in growing the brand through initiatives directed towards empowering the African entrepreneur.

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