VFD Group's Profit Soars 92% in Nine-Month Report
VFD Group Plc announced a pre-tax profit of N15.34 billion in its unaudited financial results for the nine months ending 30 September 2026, marking a 91.86% increase from N7.99 billion in the same period of 2025. The third-quarter gross earnings were N28.16 billion, surpassing the forecast of N26.36 billion by 6.83%.
This growth was driven by a 52.58% rise in investment and similar income, totaling N75.11 billion, which constituted 91.74% of the group’s gross earnings. Nine-month profit after tax rose by 95.97% to N13.00 billion from N6.63 billion, with earnings per share increasing to 75 kobo from 38 kobo.
Operating expenses increased by 29.23% to N18.98 billion, but operating profit grew by 46.88% to N58.53 billion. Finance costs rose significantly, absorbing 74.02% of operating profit.
The balance sheet expanded by 29.57% to N577.64 billion, with borrowings increasing by 36.94% to N169.62 billion.
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