VFD Group Plc has outlined ambitious plans to boost its financial performance in the coming years.
According to the information disclosed in their listing document obtained by THE MATRIX, the company aims to increase its gross earnings from N33.803 billion in 2022 to N53.545 billion by the end of the 2025 financial year.
VFD Group is a unique investment firm dedicated to fostering positive and socially responsible ecosystems. Their strategy involves consolidating promising businesses to create innovative products and solutions that cater to the needs of everyday Nigerians and entrepreneurs. This listing on the NGX (Nigerian Exchange Limited) serves as a strategic maneuver to elevate the group’s visibility, bolster its access to capital, and enhance liquidity. These efforts are ultimately designed to benefit the company’s valued investors and stakeholders.
The company has also made other financial projections. In addition to the significant growth in gross earnings, VFD Group foresees generating N30.655 billion in investment income. The estimated profit before tax stands at N16.442 billion, and the company’s total assets are expected to reach N300.607 billion within the stated period. Furthermore, the forecasted dividend payout is set at N5.828 billion, a notable increase from the N1.367 billion paid in 2022.
The recent milestone for VFD Group Plc was its listing on the Main Board of the Nigerian Exchange Limited (NGX). This event was commemorated with a Closing Gong ceremony and a Fact Behind the Listing Presentation, marking a pivotal moment in the company’s history. The listing of 190 million units of shares at N244.88 per share contributed N46.527 billion to NGX’s market capitalization, boosting liquidity in the Nigerian capital market and opening up opportunities for wealth creation.
Olatunde Busari SAN, Chairman of VFD Group, expressed his enthusiasm, stating, “We are excited to join the distinguished ranks of companies listed on the Exchange, and we are confident that this step will provide us with the resources we need to continue our growth trajectory and serve our shareholders even better.”
Nonso Okpala, Group Managing Director/CEO of VFD Group Plc, shared his excitement about the listing, describing it as a momentous occasion. He praised the dedication and hard work of the entire team, remarking that the transition from a boutique investment firm to a publicly traded company on the Nigerian Exchange showcases the group’s significant progress. He added, “We will continue to work toward our strategic goal of creating Africa’s first diverse business ecosystem. When compared to where we started, what we set out to achieve, and economic realities, the Group’s performance has been outstanding on all fronts. Our focus on business expansion has yielded results, particularly in sectors other than financial services, and we have significantly increased our balance sheet.”
