VFD Group Plc has submitted its earnings forecast for the first quarter of 2026, indicating that the Group expects to deliver a profit after tax of ₦2.99 billion for the three-month period ending 31 March 2026.
The forecast, endorsed by Chief Financial Officer, Raphael Olope, and Group Managing Director, Nonso Okpala, provides a forward-looking assessment of the company’s financial performance as it enters the new year.
According to the projection, gross earnings are expected to reach ₦22.78 billion, supported by strong returns from the Group’s investment activities.
VFD anticipates investment and similar income of ₦17.69 billion, while costs associated with these activities are estimated at ₦3.27 billion, resulting in net investment income of ₦14.41 billion.
Additional revenue streams are projected to contribute ₦5.09 billion, bringing operating income to ₦19.51 billion before adjustments for asset impairments.
The Group expects a net impairment charge of ₦792.55 million, providing a revised operating income position of ₦18.72 billion after impairments.
Operating expenses are forecast at ₦6.97 billion, consisting of:
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Personnel expenses of ₦2.06 billion,
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Depreciation and amortisation of ₦832.82 million, and
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Other operating costs amounting to ₦4.07 billion.
Finance costs remain a major pressure point for the Group, with the forecast showing ₦7.47 billion in expected finance charges for the quarter. After accounting for these obligations, VFD Group projects profit before tax of ₦4.28 billion.
Tax liabilities for the period are estimated at ₦1.28 billion, bringing the Group’s projected profit after tax to ₦2.99 billion.
The forecast reflects VFD Group’s expectations of sustained capital market activity, improved fund deployment across its investment portfolio, and continued operational stability through the first quarter of 2026.
The Group is expected to release its unaudited financial statements after the close of the reporting cycle.