The Computer Warehouse Group Plc says it expects to generate a revenue of N16.5bn and profit after tax of N300m for the 2014 financial year.

The Chief Executive Officer, CWG, Mr. Austin Okere, explained that it expected additional revenue from the company’s traditional brick and mortar business.

“This reflects a continuing improvement in margins with a greater efficiency in our operations, and good focus on the growth of our managed services,” he said.

“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 the first half of 2015.”

The CWG CEO explained that the company had made significant progress in the introduction of its new subscription-based business lines.

He said, “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 ongoing discussions with multilateral organisations, focused on SMEs and achieving inclusive growth in Nigeria, to collaborate on the rollout of this product.”

According to Okere, the company’s flagship e-commerce technology platform, Openshopen.ng, is being tested with a few organisations, with the plan for a mass rollout in the first quarter of 2015.

He added, “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 the fourth quarter of this year.”

Among other things, the CWG CEO said the company would continue growing the brand through initiatives directed towards empowering the African entrepreneur.

“This would be done by making IT available to SMEs on a subscription basis, thereby lowering the entry barriers to the use of Information Technology, and facilitating inclusive growth on the continent,” he said.

He explained that the decline in the company’s revenue and profit in Q3 2014 reflected the reduced emphasis on its traditional business segment and a shift in the company’s business model towards subscription based lines of business.

Punch