Nigerian Market Community

VFD Microfinance Bank has reported a significant turnaround in its financial performance, returning to profitability in the 2024 financial year with a profit after tax of N366.6 million. This marks a substantial improvement from the N333 million loss recorded in the previous year.

Transcorp PLC, a leading conglomerate in Nigeria, has witnessed a phenomenal surge in its market value, reaching $3 billion (N4.5 trillion) from a mere N20 billion in 2011. This remarkable growth is a testament to the company's strong leadership, strategic vision, and collective efforts of its stakeholders.

Today, the company announced its Audited Financial Statements for the 12 months ended 31 December 2024. Key Highlights • 125.2% Year-on-Year growth in EBITDA; increased from N52.9bn in 2023 to N119.1bn in 2024.

MTN, a leading telecommunications company in Africa, is set to shake up the continent's streaming landscape with the launch of a new video streaming platform. Through a strategic partnership with Synamedia, a global video software leader, MTN will offer a unique blend of live TV and video-on-demand content to its mobile and fixed broadband users across Africa.

International Breweries has reported a significant loss after tax of N113.61 billion in the 2024 financial year, marking its seventh consecutive year of losses. Despite this, the company has seen strong revenue growth, with a 87.63% increase in revenue to N488.96 billion.

eTranzact International Plc has announced a remarkable pre-tax profit of N5 billion for the year ended December 31, 2024, marking a 53.2% year-on-year growth. This impressive performance highlights the company's accelerating profitability and strategic expansion in the fintech sector.

Nigerian Breweries has announced that the proceeds from its N599 billion rights issue have been instrumental in eliminating its foreign exchange (FX) debt entirely from its balance sheet. This move mitigates the company's exposure to currency volatility and reduces its local debt burden.

Transcorp Hotels has delivered a remarkable performance in the 2024 financial year, with a 138% increase in profit before tax to N22.61 billion. The company's strong financial performance is driven by its strategic focus on revenue generation, cost management, and market positioning.

LivingTrust Mortgage Bank Plc has secured an extension of time to file and publish its 2024 Audited Financial Statements, following approval from the Nigerian Exchange Limited (NGX). Key Highlights The bank's request for an extension was necessitated by the following factors: - Newly Reconstituted Board: The bank's newly reconstituted board was approved by the regulator towards the end of March 2025, requiring time to review the accounts.