VFD Group

VFD Group Plc has announced a remarkable turnaround in its financial performance, migrating from a loss before tax of N1.02 billion in 2023 to a profit before tax of N12.46 billion in the unaudited financial year ended December 31, 2024. Key Highlights: - N12.46 billion profit before tax in 2024, a significant improvement from N1.02 billion loss in 2023 - N10.41 billion profit after tax in 2024, compared to a loss of N0.75 billion in 2023 - Total comprehensive income of N10.85 billion in 2024, up from N0.15 billion in 2023 - Basic earnings per share of N8.22/share in 2024, a significant improvement from -N3.95/share in 2023 - Return on average assets of 3.80% in 2024, compared to -0.41% in 2023 - Return on average equity of 22.02% in 2024, up from -2.34% in 2023 The company's impressive performance was driven by a significant increase in gross earnings, which rose by 84.45% to N83.21 billion in 2024.