VFD Group Reports N5.19bn Profit Before Tax in Q1 2026

VFD Group Plc released its unaudited consolidated financial statement for the first quarter ending March 31, 2026, reporting a profit before tax of N5.19 billion, which reflects a 26% increase from N4.12 billion in the same period in 2025. This translates to earnings per share of 25.45 kobo, a 16% rise compared to the prior period.

The group's results indicate a disciplined capital deployment and a focus on deleveraging, which accelerated profit growth. The profit before tax increased by 102% at the company level and 26% at the group level.

The group is currently in a capital raising phase, and its consolidated gross earnings grew by 37% to N27.07 billion, up from N19.81 billion in Q1 2025. Investment income also saw a significant increase of 27%, reaching N23.99 billion compared to N18.86 billion in Q1 2025.

Mr. Nonso Okpala, the Group Managing Director, commented on the efforts made over the last two years to reshape the portfolio and align the balance sheet.