VFD Group Plc, a leading proprietary investment company in Nigeria, has reported a profit before tax (PBT) of N4.1 billion for the first quarter of 2025, maintaining stability despite prevailing economic headwinds.

According to its unaudited Q1 financial results, gross earnings rose to N16.4 billion, while net revenue hit N12.7 billion, largely driven by increased contributions from its operating subsidiaries. The group also recorded a N3.1 billion profit after tax (PAT) and total assets grew to N264.8 billion, reflecting its aggressive expansion across multiple sectors including banking, asset management, real estate, and technology.

VFD Group’s Group Managing Director/CEO, Nonso Okpala, highlighted the strategic focus of the company, saying:

“We have continued to make strategic investments and build resilient structures to drive long-term value for stakeholders. Our consistent performance reaffirms our commitment to sound corporate governance and innovative growth.

With a mission to build Africa’s first truly diverse business ecosystem, VFD Group’s Q1 performance underscores its resilience amid Nigeria’s challenging macroeconomic environment, marked by inflationary pressures and currency volatility.

VFD Group’s balance sheet also showed strong momentum. Total assets rose to N320.63 billion, a 22 per cent increase from Q1 2024, while shareholders’ equity surged 59 per cent to N64.39 billion. This growth was supported by higher earnings, increased investments in real estate, and a boost in loans and receivables.

Even as total liabilities climbed to N256.24 billion, largely due to increased borrowings, the Group reduced its debt-to-equity ratio to 1.94x from 2.13x last year, showing improved financial stability.

Operationally, the Group generated N8.79 billion in net cash from operating activities rebounding from a negative cash flow in Q1 2024. Cash from financing activities stood at N19.01 billion, helping fund continued investments despite a net outflow of N20.26 billion from investing activities.

Looking ahead, VFD Group says it remains focused on smart capital allocation, expanding into new markets, and maintaining strong risk management. The company reaffirmed its goal of building a consistently profitable and sustainable business.