VFD Group Plc Reports N13bn Profit Growth in 2026

VFD Group Plc (NGX: VFDGROUP) announced a 96% increase in profit after tax to N13 billion for the nine months ending September 30, 2026, up from N6.63 billion in the same period of 2025. Profit before tax also saw a 92% rise to N15.34 billion from N7.99 billion.

The Group's gross earnings reached N81.88 billion, a 35% increase from N60.72 billion in 2025, primarily driven by a 59% increase in net investment income to N72.18 billion. Operating profit grew by 47% to N58.53 billion, aided by improved efficiency and a 44% reduction in impairment charges.

The cost-to-income ratio improved to 24.5% from 26.9%, and earnings per share rose to 75 kobo from 38 kobo. Total assets expanded by 30% to N577.64 billion, with investments in financial assets more than doubling to N217.08 billion.

The Group's managing director, Nonso Okpala, emphasized the importance of sustainability in achieving these results. The appointment of Ijeoma Emezie-Ezigbo as the first deputy managing director was noted as a commitment to governance.