{
  "id": 1960488,
  "title": "CWG rakes in N15.5 billion from IT infrastructure services in H1 2026",
  "url": "https://urgent.news/2026/08/19/cwg-rakes-in-n15-5-billion-from-it-infrastructure-services-in-h1-2026",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T14:56:18.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/08/19/cwg-rakes-in-n15-5-billion-from-it-infrastructure-services-in-h1-2026/"
  },
  "original_language": "en",
  "account": "CWG Plc reported a significant surge in revenue from IT Infrastructure Services during the first half of 2026, generating N15.5 billion, a staggering 142.4% increase compared to N6.4 billion in the same period last year. This growth propelled the company's total revenue to N44.4 billion, marking a 20.8% rise from N36.8 billion in 2025. The robust performance was primarily fueled by major contracts across the public sector, telecommunications, and financial services sectors.\n\nThe increased revenue from IT Infrastructure Services more than compensated for a decline in software revenue, resulting in a N7.6 billion boost in total revenue. However, the growth did not translate into a proportional increase in profits, as the cost of sales rose by 24.2% to N35.3 billion, despite the overall revenue increase of 20.8%.\n\nCWG's IT Infrastructure Services business is described as the technology foundation that enables organizations to operate their systems efficiently, encompassing data center, network, security, and storage infrastructure. The rapid expansion of this division is evident in the company's working-capital position, with project-related prepayments surging from N1.6 billion to N7.5 billion during the period, and accrued income reaching approximately N9.5 billion.\n\nThe financial position of CWG also strengthened during this period, with a notable increase in contract liabilities, despite a decline in software revenue. This trend could provide insights into revenue recognition in future periods. The H1 2026 performance builds upon CWG's successful 2025, which saw a significant transaction in its shares and a substantial increase in dividends. In May, 429.7 million CWG shares, approximately 17% of the company's issued share capital, were traded in a single off-market transaction valued at N8.98 billion. Additionally, CWG shareholders approved a 70 kobo final dividend per share for 2025, marking a 79% increase from the 39 kobo paid in the previous year.",
  "summary": "CWG Plc generated N15.5 billion from IT Infrastructure Services in the first half of 2026, up 142.4% from N6.4 billion recorded in the corresponding period of 2025. The post CWG rakes in N15.5 billion from IT infrastructure services in H1 2026 appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}