Stock & Analyst Updates | |
Stock & Analyst Updates | |
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Tuesday, March 20, 2018 /04:14 PM / NSE
Following the preliminary review of CWG Plc’s (“the
Company”) Financial Statements for the year ended 31 December 2017, it is
expected that the estimated earnings and year-end financial projections will be
materially lower in comparison to the prior year financials.
The reduction in earnings is predominantly a result of
losses incurred, due to the financial cost implications of non-actualized
projects which have adversely affected the Company’s estimated 51 earnings and
year end projections. Although there is a decline in earnings, CWG Plc. profit
margins have continued to remain stable, for the financial year ended 2017 and
are expected to g) relatively stay the same. Further details pertaining to the
company’s financial performance is disclosed in the audited Financial
Statements.
Notwithstanding the foregoing, from the preliminary
forecast undertaken, the Board of CWG Plc. continues to remain positive about
the strategic direction of the Company and in restructuring if both its
business and management models to ensure that the Company maintains its
leadership position. The Board is highly optimistic about the new initiatives
due to the launching of a number 55 of technology platforms that are currently
in the developmental stage and the strategic partnerships that have been
concluded, which are expected to translate to increased transactional numbers.
CWG Plc reiterates its commitment towards excellence
and maintaining its position as a market a leader.
Related News
1. CWG Declares
N41.56 million PAT in Q2'17 Result,(SP:N2.54k
2. CWG Declares
N22.74 million PAT in Q1 2017 Result,(SP:N2.54k)
3. CWG Declares
N127.68 million PAT in 2016 Audited Result,(SP:N2.54k)
4. CWG PLC
Announces A Delay to the Publishing of Year Ended 31 December 2016 Results
5. CWG Plc Announces the Resignation, Retirement and Appointment of Non-Executive