April 29, (THEWILL) — VFD Group Plc has reported a pretax profit of N5.1 billion for the first quarter ended March 31, 2026, marking a 25.99 percent increase from N4.1 billion recorded in the same period last year.
The performance was largely driven by stronger top-line growth, with investment and related income rising 27.18 percent year-on-year to N23.9 billion.
Investment income led contributions at N4.7 billion, followed by placements (N4.5 billion), logistics and haulage (N4.1 billion), and interest on loans and advances (N3.3 billion).
A standout driver was “other income,” which surged 529.3 percent to N2.7 billion, supported by foreign exchange gains and fair value gains on investment properties.
Gross earnings climbed 36.63 percent to N27.07 billion, while net revenue rose 21.29 percent to N22.3 billion.
Additional income streams included treasury bills and commercial papers (N1.9 billion), fees and commissions (N1.7 billion), and interest on debt instruments (N1.6 billion).
Dividend income and share disposals contributed over N1.2 billion combined.
However, rising costs moderated overall gains. Total expenses increased to N6.5 billion from N4.4 billion, while finance costs climbed to N10.4 billion. Despite this, operating profit rose 12.56 percent to N15.6 billion. After tax, profit stood at N4.1 billion.
On the balance sheet, total assets expanded to N458.6 billion, with financial investments remaining dominant.
Total equity reached N124.2 billion, supported by retained earnings growth.
The results, released after market close on April 28, are expected to influence investor sentiment in subsequent trading sessions.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
