VFD Group Reports Strong Q1 2025 Results with 29% Growth in Earnings

Nume Ekeghe

VFD Group Plc has kicked off the year on a strong note, reporting a 29 per cent increase in gross earnings to N19.81 billion for the first quarter of 2025. The impressive performance was driven largely by a 48 per cent jump in investment-related income, reflecting the Group’s solid strategy and expanding portfolio.

The company, which is listed on the main board of the Nigerian Exchange (NGX), also saw net investment income climb 42 per cent to N17.99 billion. Operating profit rose to N13.92 billion, while profit before tax stood at N4.12 billion up 35 per cent from the same period last year. Profit after tax increased to N3.50 billion, and earnings per share improved to N2.19 from N1.49.

Speaking on the results, the Group’s Managing Director and CEO Nonso Okpala noted:
“Our performance this quarter shows the strength of our strategy and our ability to thrive in different economic conditions. We’re building a resilient business, and platforms like Bvndle and Splitar are helping us unlock more value across our portfolio.”

VFD Group’s balance sheet also showed strong momentum. Total assets rose to N320.63 billion, a 22 per cent increase from Q1 2024, while shareholders’ equity surged 59 per cent to N64.39 billion. This growth was supported by higher earnings, increased investments in real estate, and a boost in loans and receivables.

Even as total liabilities climbed to N256.24 billion, largely due to increased borrowings, the Group reduced its debt-to-equity ratio to 1.94x from 2.13x last year, showing improved financial stability.

Operationally, the Group generated N8.79 billion in net cash from operating activities rebounding from a negative cash flow in Q1 2024. Cash from financing activities stood at N19.01 billion, helping fund continued investments despite a net outflow of N20.26 billion from investing activities.

Looking ahead, VFD Group says it remains focused on smart capital allocation, expanding into new markets, and maintaining strong risk management. The company reaffirmed its goal of building a consistently profitable and sustainable business.