VFD Group Plc has reported a 96 per cent year-on-year improve in revenue after tax to N13.00 billion for the 9 months ended September 30, 2026, up from N6.63 billion recorded within the corresponding interval of 2025.
The Group’s unaudited monetary outcomes, accredited by its Board of Directors, additionally confirmed that revenue earlier than tax rose 92 per cent to N15.34 billion from N7.99 billion, whereas gross earnings elevated 35 per cent to N81.88 billion from N60.72 billion.
The sturdy earnings efficiency displays development within the Group’s funding actions, improved working effectivity and the continued enlargement of its monetary asset portfolio.
Earnings per share practically doubled to 75 kobo from 38 kobo, whereas revenue attributable to shareholders elevated 97 per cent to N9.52 billion, highlighting the development in earnings obtainable to the Group’s homeowners.
Investment Income Drives Earnings Growth
A breakdown of the outcomes reveals that web funding earnings, the Group’s largest income contributor, rose 59 per cent to N72.18 billion from N45.45 billion a 12 months earlier. Net income elevated 42 per cent to N77.52 billion, whereas working revenue superior 47 per cent to N58.53 billion.
The Group additionally recorded enhancements in working effectivity, with its cost-to-income ratio declining to 24.5 per cent from 26.9 per cent. Impairment expenses fell 44 per cent to N1.29 billion, supporting the expansion in working revenue.
However, finance prices elevated 36 per cent to N43.33 billion, reflecting the price of funding the Group’s increasing funding portfolio. Despite the upper funding prices, revenue earlier than tax practically doubled, demonstrating the energy of earnings development in the course of the interval.
Total belongings rose 30 per cent to N577.64 billion as at September 30, 2026, from N445.81 billion on the finish of December 2025. Investment in monetary belongings greater than doubled to N217.08 billion, whereas funds underneath administration elevated 84 per cent to N142.52 billion.
Shareholders’ funds additionally grew 87 per cent to N130.02 billion, reflecting a stronger capital place because the Group continued to increase its funding actions.
Parent Company Profit Rises to N6.18 billion
At the mum or dad firm stage, VFD Group Plc recorded a major enchancment in profitability, with revenue after tax rising to N6.18 billion from N300 million within the corresponding interval of 2025.
Gross earnings elevated 84 per cent to N36.52 billion, whereas web funding earnings rose 123 per cent to N32.53 billion. Profit earlier than tax climbed to N7.23 billion from N350 million, and earnings per share elevated to 49 kobo from two kobo.
The firm’s shareholders’ funds rose 131 per cent to N94.30 billion, whereas borrowings declined 14 per cent to N108.02 billion. Its borrowings-to-equity ratio consequently fell to 1.1 instances from 3.1 instances initially of the 12 months.
The enchancment at each Group and mum or dad firm ranges factors to stronger earnings, though the sustainability of the efficiency will rely upon funding returns, funding prices and the Group’s skill to deploy capital profitably.
N50.67bn Rights Issue Supports Expansion Strategy
The outcomes come as VFD Group continues to deploy the proceeds of its N50.67 billion rights subject, raised to strengthen its capital base and assist its development technique.
During the third quarter, the Group additionally raised N22.75 billion by way of an A1-rated business paper issuance, offering further funding for its funding actions.
In one other strategic improvement, the Securities and Exchange Commission (SEC) accredited Anchoria Capital Group as a capital market holding firm, supporting the Group’s efforts to consolidate and increase its capital market operations.
Commenting on the outcomes, Group Managing Director and Chief Executive Officer of VFD Group Plc, Nonso Okpala, stated the near-doubling of revenue after tax mirrored stronger efficiency from the Group’s core funding actions, alongside efforts to strengthen its monetary place and construct a extra sustainable enterprise.
He stated: “Our revenue after tax has nearly doubled, reflecting stronger efficiency from our core funding actions. Beyond the numbers, we have now continued to strengthen the Group’s monetary place, deploy the capital raised and construct the management construction required to maintain our efficiency.
“The appointment of Mrs. Emezie-Ezigbo as our first Deputy Managing Director is an important milestone. It reinforces our commitment to building an institution with the leadership depth, governance and capacity to deliver sustainable value over the long term.”
VFD Group Appoints First Deputy Managing Director
In a transfer to strengthen government management and succession planning, VFD Group appointed Mrs. Ijeoma Emezie-Ezigbo as Deputy Managing Director, efficient October 5, 2026. She is the primary individual to occupy the place because the Group’s institution.
Emezie-Ezigbo brings greater than 20 years of expertise in company finance, mergers and acquisitions, transaction advisory and enterprise valuation throughout West Africa and Canada.
Before her appointment, she served as Partner and Head of Transaction Services, West Africa, at KPMG Nigeria. She is a Fellow of the Institute of Chartered Accountants of Nigeria and an Associate of Chartered Professional Accountants of Ontario, Canada.
Her appointment types a part of the Group’s broader effort to strengthen governance, deepen its government management and set up a structured succession framework throughout its companies.
Focus Shifts to Sustainable Growth
Looking forward, Executive Director, Finance, VFD Group Plc, Folajimi Adeleye, stated the Group would concentrate on disciplined capital deployment, funding effectivity, management succession and the enlargement of its capital markets enterprise.
He famous that the rights subject had strengthened the mum or dad firm’s capital place, with shareholders’ funds rising considerably and borrowings declining.
“As we enter the final quarter of the year, our priorities remain clear: deploy capital responsibly across our investment businesses, improve funding efficiency, strengthen leadership succession and continue expanding our capital markets operations through Anchoria Capital Group,” Adeleye stated.
