VFD Group Plc achieved a profit before tax (PBT) of N5.19 billion in its first quarter (Q1), over N1 billion rise from N4 12 billion posted in the corresponding period in 2025.

Its unaudited consolidated and separate financial statements for the quarter reflect disciplined capital deployment, deleveraging and accelerating profitability with PBT increasing by 26 per cent at the group level, as the group transitions from a capital-raising phase to an earnings-translation phase.

PBY grew by 26 per 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 from the prior comparable period.

The consolidated gross earnings grew by 37 per cent to N27.07 billion from N19.81 billion 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.

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 N7.1 billion in Q1 2025. Investment income grew by 59 per cent to N11.03bn from N6.96 billion in Q1 2025.

The company’s PBT more than doubled, increasing by 102 per cent to N2.11 billion from N1.05 billion in Q1, 2025.