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VFD reported N3.11bn profit in H1

He added that gross earnings for the first half of the year stood at N28.59bn, marking a 52.1 per cent year-on-year increase from N18.79bn in the corresponding period of 2023.

“Our total assets reached an impressive N296.86bn. Gross earnings amounted to N28.59bn, a remarkable increase from N18.79bn in H1 2023,” he stated.

The Executive Director of Finance, Risk, and Compliance, John Okonkwo, noted that the group reported a surge in total cash and cash equivalents, which grew by 138.2 per cent to N19.94bn, compared to N8.37bn as of December 2023.

“Total cash and cash equivalents surged to N19.94bn. Shareholders’ fund rose significantly to N50.87bn,” Okpala highlighted.

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