First HoldCo Plc (formerly known as FBN Holdings Plc) reported a profit after tax of ₦677.0 billion for the financial year ended December 31, 2024, marking its highest annual profit in 12 years. This figure represents a significant increase from the ₦310.4 billion reported in 2023.
Key Financial Highlights (FY 2024)
- Profit After Tax: ₦677.0 billion (2023: ₦310.4 billion)
- Earnings Per Share (EPS): ₦18.69 (2023: ₦8.59)
- Dividend Proposed: ₦0.60 per share, totaling ₦25.13 billion (2023: ₦14.36 billion)
- Profit Attributable to Equity Holders: ₦670.8 billion
- Profit from Discontinued Operations: ₦6.2 billion
The substantial growth in profitability is attributed to enhanced operational efficiency, strategic investments, and favorable market conditions.
Corporate Developments
- Rebranding: The company transitioned from FBN Holdings Plc to First HoldCo Plc in 2024, reflecting a broader strategic vision.
- Shareholding: Notable shareholders include Femi Otedola, with a combined direct and indirect stake of 11.8% through personal holdings and Calvados Global Services Limited.
- Shareholder Base: As of December 31, 2024, the company had 1,189,506 shareholders.
This performance underscores First HoldCo Plc’s strengthened position in Nigeria’s financial sector and its commitment to delivering value to shareholders.
