VFD Group Plc Delivers Stunning 1202% Profit Turnaround and 116% Market Cap Surge

The financial year 2023 was a challenging period for businesses across the globe, battered by persistent macroeconomic headwinds, inflationary pressures, and geopolitical uncertainties.

 

In a remarkable display of resilience and strategic brilliance, VFD Group Plc (VFD Group Website), a leading proprietary investment firm, has unveiled its audited financial results for the year ended December 31, 2024, showcasing extraordinary growth and a robust turnaround from previous setbacks.

A Year of Transformation Amid Global Headwinds

The financial year 2023 was a challenging period for businesses across the globe, battered by persistent macroeconomic headwinds, inflationary pressures, and geopolitical uncertainties. VFD Group was no exception, recording a pre-tax loss of N1 billion in 2023. Yet, rather than succumb to adversity, the company embarked on an aggressive transformation journey marked by strategic recalibration, operational optimization, and technological innovation.

Fast forward one year, and the results speak volumes: VFD Group Plc reported a pre-tax profit of N11.2 billion, marking a staggering 1202% year-on-year growth. This monumental leap underscores the resilience and strategic foresight of the Group's leadership and teams.

Exceptional Financial Highlights

The Group’s audited results for 2024 reveal stellar improvements across all key performance indicators:

• Investment and Similar Income: VFD Group generated N74.6 billion in investment and similar income, a 98% increase compared to the previous year.

• Net Investment Income: Net investment income rose by 95% to N59.0 billion, up from N30.3 billion in 2023, despite a notable increase in investment expenses (N15.5 billion, compared to N7.4 billion the previous year).

• Net Revenue: Net revenue experienced a 90% jump, reaching N71.0 billion, demonstrating stronger core earnings and an expanded income base.

• Operating Profit: Operating profit surged by 104% to N48.8 billion, reflecting effective cost management and operational excellence.

• Pre-Tax Profit: The crowning achievement — a pre-tax profit of N11.2 billion — marks a full reversal from the loss recorded just a year ago.

A Soaring Market Capitalisation

The confidence in VFD Group’s strategy and growth potential was echoed in the capital markets. As of April 22, 2025, the Group's market capitalisation soared by 116% year-to-date, climbing from N56.2 billion to N121.6 billion. This surge not only reflects investor confidence but also positions VFD Group as a formidable force in the investment landscape.

Strategic Pillars Behind the Growth

Several key initiatives underpinned VFD Group’s success story in 2024:

• Innovative Investment Strategies: The Group diversified its portfolio, targeting high-growth sectors and leveraging data-driven decision-making.

• Operational Efficiency: A series of internal process optimizations significantly reduced operating costs while boosting productivity.

• Digital Transformation: The implementation of advanced technology platforms enhanced customer experiences and improved service delivery.

• Risk Management: Strengthened governance and risk management frameworks safeguarded the Group against external volatility.

• Talent and Leadership: VFD Group invested heavily in attracting, retaining, and empowering top-tier talent, building a workforce aligned with its strategic ambitions.

Looking Ahead

Building on this phenomenal success, VFD Group Plc remains committed to delivering sustainable value to its customers, shareholders, and wider stakeholders. The company aims to capitalize on emerging opportunities, expand its investment portfolio, and further entrench its leadership position across Africa and beyond.

The future for VFD Group looks promising as it continues to evolve, innovate, and drive superior returns while maintaining its focus on excellence and responsible corporate governance.