VFD Group Plc recorded a robust performance for the period ended September 30, 2025, with nine-month profit before tax rising to ₦7.9 billion, representing a 61.5 per cent increase from ₦4.9 billion in the same period last year.

This momentum carried through to the bottom line, as profit after tax climbed 48.5% to ₦6.6 billion, compared to ₦4.4 billion in 2024. A cursory look shows that higher investment income and trimmed expenses were the main drivers of VFD Group’s strong earnings performance.

VFD’s earnings success was driven by a 44.7 per cent increase in net investment income to ₦45.65 billion, up from ₦31.5 billion in 2024, contributing significantly to a 34.9% rise in gross earnings to ₦60.72 billion.

The growth was supported by better yields and an expanded investment portfolio. Net gains on financial assets stood at ₦5.57 billion, nearly doubling year-on-year, driven by favorable capital market movements and strategic portfolio positioning.

Other income totaled ₦6.05 billion, boosted mainly by gains from investment properties and exchange uplift, marking a 57.6 per cent year-on-year increase.

Pretax profit remained strong despite a 66.8% jump in finance costs to ₦31.93 billion. These costs, largely tied to borrowings, were counterbalanced by revenue growth, efficient expense management, and healthy operating profit.

Total operating expenses rose to ₦15.1 billion in the period, up from ₦12.8 billion last year.

Even with these cost increases, VFD Group posted a 65.8% increase in operating profit before tax to ₦39.85 billion, demonstrating operational resilience. Consequently, earnings per share rose significantly to 64 kobo, compared to 45 kobo in Q3 2024.

VFD Group’s financial position improved significantly in the nine-month period, with total assets rising 29.7% year-to-date to ₦383.39 billion from ₦295.6 billion at year-end 2024.

The group’s equity position also expanded to ₦71.50 billion, driven by ₦16.80 billion in retained earnings (a 54.5% year-to-date increase), ₦15.7 billion in share premiums, and ₦15.9 billion in other reserves. Cash and cash equivalents also improved to ₦20.4 billion, signaling a strong liquidity position.