VFD Group Plc has achieved a Profit Before Tax (PBT) of N5.19 billion in its First quarter (Q1) , 2026 operations, against N4 12 billion posted in the corresponding period in 2025.

Its unaudited consolidated and separate financial statements for the quarter ended 31 March 2026 is a reflection of quarter of disciplined capital deployment, deleveraging, and accelerating profitability with PBT increasing by 102 per cent at Company level and 26 per cent at Group level, as the Group transitions from a capital-raising phase to an earnings-translation phase.

Specifically, profit before tax grew by 26 pee cent to N5.19 billion from N4.12 billion in Q1 2025, translating into earnings per share of 25.45 kobo, up 16 per cent on the prior comparable period.
The consolidated gross earnings grew by 37 per cent to N27.07 billion from N19.81billion in Q1 2025, supported by broad-based growth across investment income, and fee income.

The firm’s investment income grew by 27 per cent to N23.99 billion from N18.86 billion in Q1 .
The group results reflect the operating profiles of subsidiaries, several of which are in scaling or restructuring phases.

The standalone company performance which most accurately reflects the earning power of VFD as a principal investment company was materially stronger.

Its gross earnings grew by 69 per cent to N11.98 billion from N7.10 billion in Q1 2025. Investment income grew by 59 per cent to N11.03bn from N6.96 billion in Q1 2025. The company profit before tax more than doubled, increasing by 102 per cent to N2.11 billion from N1.05 billion in Q1 2025.
This stellar performance at the investment company level reflects its compounding intrinsic value as it recycles capital across higher-quality investments.

Commenting on the results, Nonso Okpala, Group Managing Director, Nonso Okpala said:
“Over the last two years we have done the difficult work of reshaping the portfolio, recapitalizing the balance sheet, and aligning every entity in the Group to a clear principal investment thesis.

The fact that Company-level profit has more than doubled tells you the level of capital deployment efficiency the investment company possesses.”
Commenting on the results, Executive Director, Finance & IR, Folajimi Adeleye said:“We are entering Q2 with a stronger capital base, lower funding cost trajectory, and a higher-quality earning asset mix.

The full effect of our N50.4bn rights issue that only became fully available toward the end of the quarter has not yet been reflected in these numbers. Hence, we expect the next phase to be considerably more emphatic.”
On the outlook,

The company also reaffirmed its 2026 strategic priorities: deepening the principal investment platform, scaling regional capital deployment in line with its pan-African thesis, and delivering compounding shareholder value across capital appreciation and earnings translation.

VFD Group Plc is a leading principal investment company listed on the Nigerian Exchange Limited (NGX), committed to building Africa’s most valuable ecosystem of businesses.

The group invests in and actively manages a diversified portfolio across key sectors, including market infrastructure, capital market operations, financial services and fintech, real estate and hospitality, and retail technology.

With investments in Nigeria, Ghana and South Africa, VFD is focused on scaling high-impact businesses and delivering sustainable, long-term value to its stakeholders.