VFD Group Reports N10.06bn Profit, Declares Dividend

VFD Group Plc announced a strong financial performance for the first half of 2026, with a profit after tax (PAT) of N10.06 billion, marking a 100.8% increase from the same period in 2025. The company declared an interim dividend of 24 kobo per ordinary share, totaling approximately N3.04 billion.

Gross earnings rose by 30.5% year-on-year to N53.71 billion, primarily driven by the strength of its investment portfolio. Profit before tax (PBT) increased by 98.4%, while investment income grew by 30.2% to N49.13 billion, constituting 91.5% of gross earnings.

The Group's standalone performance was even stronger, with gross earnings up 62.5% to N23.87 billion and PBT surging by 295% to N5.95 billion. Shareholders’ funds more than doubled to N91.02 billion, and borrowings decreased by 7% to N116.18 billion.

Mr. Nonso Okpala, Group Managing Director, emphasized the disciplined investment strategy, while Executive Director, Finance, Mr. Folajimi Adeleye, noted the company’s strong capital position entering the second half of the year.