VFD Group reports N14.1 billion 2025 profits, announces dividend from strong earnings

2026-04-03 08:25:44

VFD Group Plc has released its audited 2025 financial statements, reporting a pretax profit of N14.1 billion on gross earnings of N88.35 billion, up 13.2% year-on-year.

This represents a 41.52% increase from a pretax profit of N10.01 billion in 2024, driven by a strong top line composed of investment income.

Investment income reached N68.3 billion, up from N65.3 billion, with major contributions from interest on placements (N17.2 billion), investments (N16.4 billion), loans and advances (N9.4 billion), and logistics and haulage (N8.6 billion).

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The strong earnings performance lifted the bottom line, with EPS rising to 95 kobo from 82 kobo, while the board declared a 25 kobo per share final dividend, payable May 25, 2026.

Key highlights (2025 vs 2024)

Gross earnings: N88.35 billion (Up 13.22% YoY from N78.03 billion)

Net investment income: N57.96 billion (Up 10.13% YoY from N52.63 billion)

Net revenue: N75.42 billion (Up 16.41% YoY from N64.78 billion)

Operating profit: N52.24 billion (Up 15.09% YoY from N45.39 billion)

Profit before tax: N14.17 billion (Up 41.52% YoY from N10.01 billion)

Profit after tax: N9.71 billion (Up 25.43% YoY from N7.74 billion)

Earnings per share (EPS): 95 kobo vs 82 kobo

Driving the numbers

A closer look at the company’s financial statements shows that interest expenses narrowed amid top-line growth, reaching N10.4 billion compared to N12.6 billion in the prior year.

Of this total, logistics and haulage costs led with N3.5 billion, followed by property development costs at N2.9 billion during the period.

Net investment income remained strong at N57.9 billion, up from N52.6 billion recorded in the previous year.

The group reported other income of N6.4 billion, largely driven by fair value gains on investment properties, and realised N2.7 billion from the disposal of subsidiaries.

After accounting for an impairment charge of N2.3 billion, net revenue settled at N75.4 billion, marking a 16.41% increase from N64.7 billion recorded previously.

The company also experienced a spike in total expenses to N23.1 billion from N19.3 billion, resulting in an operating profit of N52.2 billion, up 15.1%.

Including finance costs of N38.2 billion, mostly from interest on borrowings, and a share of N132.1 million from associates, the company’s pretax profit came in at N14.1 billion.
Following a tax expense of N4.4 billion, profit after tax settled at N9.7 billion, reflecting a 25.43% year-on-year increase.

On the balance sheet, total assets rose to N445.8 billion from N295.6 billion, liabilities increased to N376.1 billion, and shareholders’ funds stood at N69.6 billion, with retained earnings of N16.7 billion, up 55.58% YoY.

Market reaction

The market has not shown significant movement in price action following the release of the company’s audited financial statements.

However, VFD Group shares are up 4.09% year-to-date in 2026 and are currently trading at N11.45 per share on the Nigerian Exchange.

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