VFD Group grows first quarter profit to N5.2b
VFD Group Plc recorded double-digit growths in incomes and profitability in the first quarter with the principal investment company growing pre-tax profit by 26 per cent to N5.19 billion within
VFD Group Plc recorded double-digit growths in incomes and profitability in the first quarter with the principal investment company growing pre-tax profit by 26 per cent to N5.19 billion within the first three months of this year.
Key extracts of the interim report and account for the period ended March 31, 2026 released at the Nigerian Exchange showed that consolidated gross earnings grew by 37 per cent to N27.07 billion in first quarter 2026 as against N19.81 billion in first quarter 2025.
The top-line performance was supported by broad-based growth across investment income, and fee income. Investment income had grown by 27 per cent to N23.99 billion in first quarter 2026 from N18.86 billion in first quarter 2025. Profit before tax rose by 26 per cent to N5.19 billion from N4.12 billion, translating into earnings per share of 25.45 kobo, 16 per cent above comparable period of 2025.
The standalone company performance which most accurately reflected the earning power of VFD as a principal investment company was materially stronger. Gross earnings grew by 69 per cent to N11.98 billion from N7.10 billion. Investment had risen by 59 per cent to N11.03 billion from N6.96 billion. The company profit before tax more than doubled, increasing by 102 per cent to N2.11 billion from N1.05 billion.
Group Managing Director, VFD Group Plc, Mr. Nonso Okpala, said the stellar performance at the investment company level reflected the company’s compounding intrinsic value as it recycled capital across higher-quality investments.
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According to him, the group results reflected the operating profiles of subsidiaries, several of which are in scaling or restructuring phases.
He noted that the results reflected a quarter of disciplined capital deployment, deleveraging, and accelerating profitability with profit before tax increasing by 102 per cent at company level and 26 per cent at group level, as the group transitions from a capital-raising phase to an earnings-translation phase.
“Over the last two years we have done the difficult work of reshaping the portfolio, recapitalizing the balance sheet, and aligning every entity in the group to a clear principal investment thesis. The fact that company-level profit has more than doubled tells you the level of capital deployment efficiency the investment company possesses,” Okpala said.
Executive Director, Finance and IR, VFD Group Plc, Mr. Folajimi Adeleye said the group has been positioned for stronger growth.
He said: “We are entering second quarter with a stronger capital base, lower funding cost trajectory, and a higher-quality earning asset mix. The full effect of our N50.4 billion rights issue that only became fully available toward the end of the quarter has not yet been reflected in these numbers. Hence, we expect the next phase to be considerably more emphatic”.
He reaffirmed VFD Group’s 2026 strategic priorities, including deepening the principal investment platform, scaling regional capital deployment in line with its pan-African thesis, and delivering compounding shareholder value across capital appreciation and earnings translation.
