By EMEKA AGINAM

Computer Warehouse Group Plc last month released its audited financial results for the year ended December 31, 2013 to the Nigerian Stock Exchange, NSE, with the results showing a strong and positive performance across all financial indices.

Accordingly, the company’s revenues grew by 10 percent to N20.7billion from N18.7billion, while profit after tax increased by 81 percent to N612million from N339million in 2012, showing strong operation efficiency.

The result further revealed a Return-on-Equity of 13 percent in 2013, as against 11 percent in 2012 and Returns on Capital Employed (ROCE) of 13 percent against seven percent in 2012.

The company’s asset increased by N2 billion to N13.4 billion as at 2013 year end, while shareholders’ equity increased by  66 percent to N5.0 billion n in the same period.

The company finished with a strong cash position of over N1.1 billion, with a 38 percent increase in cash from operation over 2012.

Based on this improved performance, the directors have recommended a 33 percent increase in dividend to 8k per share from 6k paid in 2012.

While reviewing the results, the Chief Executive Officer, Austin Okere, said the company consolidated its operations in 2013 by investing in new systems and processes, which culminated in the cost efficiencies which has, in turn, resulted in the percentage growth in the bottom line.

He said this would give CWG a cost leadership position whilst delivering superior service to its customers.