VFD Group Posts N5.19bn Profit in Strong Q1 Showing

VFD Group Plc, a principal investment company listed on the Nigerian Exchange, has recorded a sharp jump in earnings for the first quarter ended March 31, 2026, with profit before tax rising 26 per cent to N5.19bn and consolidated gross earnings climbing 37 per cent to N27.07bn.

The group’s standalone performance was even more striking, with company-level profit before tax more than doubling to N2.11bn, a 102 per cent increase that executives say reflects improved efficiency in capital deployment.

Group Managing Director Nonso Okpala credited the results to two years of strategic restructuring. “Over the last two years, we have done the difficult work of reshaping the portfolio, recapitalising the balance sheet, and aligning every entity in the Group to a clear principal investment thesis,” he said. “The fact that Company-level profit has more than doubled tells you the level of capital deployment efficiency the investment company possesses.”

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Investment income, a key driver of the group’s top-line growth, rose 27 per cent to N23.99bn, while fee income also improved across its diversified subsidiaries.

Executive Director of Finance and IR, Folajimi Adeleye, signalled even stronger numbers ahead, noting that the full impact of the group’s N50.4bn rights issue had yet to fully reflect in the current figures. “We are entering Q2 with a stronger capital base, lower funding cost trajectory, and a higher-quality earning asset mix,” he said, adding that “the next phase” is expected “to be considerably more emphatic.”

VFD Group holds significant investments across Nigeria, Ghana, and South Africa, and has reaffirmed its focus for 2026 on deepening its investment platform and delivering compounding value to shareholders.