Proprietary investment firm VFD Group Plc has released its unaudited financial results for the first half of 2026, showing a twofold increase in net profit. The group's after-tax profit rose to N10.1 billion from N5 billion recorded in the corresponding period of 2025.

Revenue for the period advanced to N53.7 billion from N41.2 billion in the previous year. This growth was largely driven by investment income, which surged by 102.8%, while net investment income expanded by 19.8% to N42 billion from N35 billion.

The company also recorded a sharp rise in other income, which grew more than sevenfold to N3.8 billion. This was supported by a N3.9 billion fair value gain in investment property, compared to no such income in the prior year.

VFD Group reduced its provision for the impairment of financial assets, particularly loans and advances, by nearly half to N657.5 million. Additionally, its share of profit from associates rose to N79.1 million from N22 million in the previous year, boosting the overall pre-tax profit.

Managing Director Nonso Okpala stated that the performance demonstrates the value of disciplined execution. He noted that profit grew more than three times faster than revenue because the company remains focused on deploying capital only where risk-adjusted returns justify.

Profit before tax climbed 98.4% to N12 billion, although the EBIT margin weakened slightly to 62.5% from 66% in H1 2025. Following the performance, the board of directors declared an interim dividend of N0.24 per share, translating to a total payout of N3 billion.

Executive Director for Finance Folajimi Adeleye stated that the group enters the second half of the year with its strongest capital position in history and a lower cost of funding. He added that the current priority is ensuring new capital generates returns exceeding the cost of the debt it replaced.

VFD Group maintains strategic investments in several key entities, including the Nigerian Exchange Group, Veritas Kapital Assurance, NASD Plc, and CSCS Plc.