VFD Group posts strong profit growth in first quarter
VFD Group Plc has announced a notable rise in its financial results for the first quarter ended March 31, 2026. The company, led by Nonso Okpala, reported significant gains in both consolidated and standalone profits. Executive Director Folajimi Adeleye highlighted the firm's improved capital base and asset mix. The Group remains focused on expanding its investment platform and delivering value to shareholders.
TLDR
- For the quarter ended March 31, 2026, VFD Group's consolidated gross earnings rose 37% to N27.07bn.
- Profit before tax increased by 26% to N5.19bn, with standalone profit before tax more than doubling to N2.11bn.
- Investment income grew by 27% to N23.99bn, and fee income improved across subsidiaries.
- Nonso Okpala credited the results to portfolio reshaping and efficient capital deployment.
- Folajimi Adeleye noted that the full impact of the N50.4bn rights issue was not yet reflected in the results.
