VFD Group Plc grew profit after tax from ₦0.75 billion in 2023 to ₦10.41 billion in the 2024 financial year despite the challenging operating environment.
The multi-sectoral investment firm also saw gross earnings surge by 84.5% to ₦83.21 billion on positive operational growth and investment gains.
The company’s net investment income skyrocketed to ₦21.71 billion, a 1,319% increase from ₦1.53 billion recorded in 2023.
Net revenue more than doubled to ₦32.20 billion. See key metrics below.
Key Performance Metrics
- Gross Earnings: ₦83.21 billion (2023: ₦45.11 billion)
- Net Investment Income: ₦21.71 billion (2023: ₦1.53 billion)
- Net Revenue: ₦32.20 billion (2023: ₦12.19 billion)
- EBITDA: ₦56.48 billion (2023: ₦25.78 billion)
- Profit Before Tax: ₦12.46 billion (2023: -₦1.02 billion)
- Profit After Tax: ₦10.41 billion (2023: -₦0.75 billion)
- Earnings Per Share (EPS): 822 kobo (2023: -395 kobo)
Financial Strength and Growth Drivers
The profit rebound was driven by strong investment income growth, cost optimization and operational efficiency.
Operating profit surged to ₦11.35 billion, reversing the ₦4.14 billion loss recorded in 2023 while EBITDA rose by 119% to ₦56.48 billion.
Despite a slight decline in operating cashflow to ₦4.52 billion, financing cashflow soared to ₦19.87 billion, signaling strong liquidity and capital inflows.
The company’s investing cashflow stood at -₦8.84 billion, suggesting continued capital deployment into high-growth opportunities.
Implications for Investors
VFD Group’s financial recovery signals strong investor confidence and a sustainable growth trajectory.
The sharp rebound in profitability and earnings per share (EPS) improvement to 822 kobo reinforces its position as a key player in Nigeria’s investment landscape.
With a strategic focus on asset expansion, portfolio optimization and cost efficiency, the company is well-positioned to maintain strong financial performance in 2025.
Investors will be closely watching its full-year audited results and strategic moves, particularly in capital allocation and market expansion efforts.
