VFD Group Plc has reported a 61.4% surge in profit before tax, reaching ₦7.99 billion in the third quarter of 2025, as the principal investment firm continues to scale its investment ecosystem through disciplined execution and strategic expansion.
According to its interim financial report released at the Nigerian Exchange (NGX), the group posted strong double-digit growth across key performance indicators. Gross earnings rose by 34.9% year-on-year to ₦60.72 billion, while net investment income climbed 44.7% to ₦45.65 billion. Net revenue increased by 49.1%, reaching ₦54.97 billion, and operating profit jumped 65.8% to ₦39.85 billion.
Net profit after tax stood at ₦6.63 billion, up 48.3% from ₦4.47 billion in Q3 2024. Earnings per share improved by 42.2%, rising from 45 kobo to 64 kobo.
The group’s balance sheet also showed robust expansion, with total assets growing by 29.7% to ₦383.39 billion and shareholders’ funds rising 28.8% to ₦71.50 billion. Debt levels declined slightly from ₦121.43 billion to ₦119.77 billion, reflecting prudent balance sheet management.
Key financial ratios highlighted improved cost efficiency and margin performance. Net investment income margin rose to 75.18%, operating profit margin expanded to 65.72%, and return on average assets (ROAA) increased to 2.60%. However, return on average equity (ROAE) dipped slightly to 13.60%.
Group Managing Director Nonso Okpala attributed the performance to the group’s strategic focus on building a scalable investment ecosystem. He emphasized the importance of the ongoing rights issue, which aims to strengthen capital, reduce funding costs, and enhance profitability.
Okpala also highlighted the success of Bvndle, VFD’s fintech and loyalty subsidiary, which continues to show unicorn potential. He noted that the group is leveraging economies of scale and scope to unlock value across its subsidiaries and investee companies.
Executive Director Folajimi Adeleye reaffirmed the group’s commitment to financial prudence and shareholder value, citing the improved debt-to-equity ratio of 1.68x and the strategic role of the rights issue in supporting long-term growth.
VFD Group’s investment ecosystem remains central to its growth strategy, offering diversified exposure to high-performing sectors and positioning the firm for sustained profitability in a complex economic environment.
