...Net investment income rises by 95% to N59.0 billion
VFD Group Plc, a proprietary investment firm, has released its audited financial results for the year ended December 31, 2024, highlighting a year of extraordinary growth and transformation. The company’s impressive performance is credited to strategic innovation and a steadfast commitment to excellence.
After reporting a pre-tax loss of N1 billion in 2023, amid widespread global economic challenges, VFD Group has staged a remarkable recovery. For 2024, the Group posted a pre-tax profit of N11.2 billion, marking a 1202% year-on-year growth.
Net investment income soared by 95% to N59.0 billion, even as investment expenses rose to N15.5 billion from N7.4 billion in the previous year. Net revenue climbed by 90% to N71.0 billion, while operating profit expanded by 104% to N48.8 billion.
Key highlights of VFD Group’s financial performance include:
- Investment and similar income: N74.6 billion, up 98% YoY
- Net investment income: N59.0 billion, up 95% YoY
- Net revenue: N71.0 billion, up 90% YoY
- Operating profit: N48.8 billion, up 104% YoY
- Pre-tax profit: N11.2 billion, compared to a N1 billion loss in 2023
As of April 22, 2025, VFD Group’s market capitalisation had risen by 116%, reaching N121.6 billion from N56.2 billion at the start of the year.
"These outstanding results reflect the success of our team's efforts. As VFD Group looks to the future, it remains committed to delivering exceptional value to its customers and stakeholders."
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