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VFD Group Plc, a leading proprietary investment company in Lagos, has released its financial result for the year ended December 31, 2021, and reported strong growth in gross earnings of 50 per cent to N9.95 billion.
The result shows continued headline growth from diverse income streams and resilience across all financial indicators, amidst macroeconomic headwinds during the year under review.
Major highlights of the results include, Group Gross Earnings growth of 50percent to N9.95 billion from N6.65 billion in 2020; Interest Income growth of 99 per cent to N7.33 billion from N3.69 billion in 2020; Trading and Other Non-Interest Income grew by 156 per cent to N10.26 billion from N4.01 Profit Before Tax dipped slightly by -3per cent to N3.94 billion from N4.08 billion in 2020; A 64per cent growth in Shareholders’ Funds to N14.64 billion from N8.92 billion in 2020; and Total Assets growth of 26per cent to N102.82 billion from N81.68 billion in 2020.
Based on the results, VFD Group Plc has proposed a final dividend of N10.78 per share with an additional bonus share for every two shares held by its shareholders. This is N2.3 per share higher than the dividend paid last year, thereby reaffirming a commitment made to its shareholders to continuously grow their wealth.
According to Nonso Okpala, GMD/CEO VFD Group, “2021 was a difficult year for the Group because we were forced to navigate the most difficult health and economic times in recent history. Regardless, VFD Group was able to weather the storm and deliver an impressive financial performance.
