First HoldCo posts ₦526bn profit in H1, Coats Group records modest earnings rise

First HoldCo Plc, one of Nigeria's largest financial groups, reported a profit after tax of ₦526.13 billion for the first half of 2026, with profit before tax climbing 83.5 % to ₦653.54 billion. Gross earnings rose 16.7 % to ₦1.93 trillion and operating income increased 25.8 % to ₦1.38 trillion. The group improved its cost‑to‑income ratio to 44.2 % and saw non‑interest income reach ₦497.1 billion, driven by fees from electronic banking, brokerage and trade services. A ₦45 billion private placement was completed in June to strengthen FirstBank’s capital base. Managing Director Wale Oyedeji said the results signal a new growth phase following a balance‑sheet reset.

Coats Group plc announced first‑half organic revenue growth of 1 % to $837 million, while earnings before interest and tax fell 2 % on an organic basis to $166 million, keeping the EBIT margin at 19.8 %. The company credited a 40‑basis‑point benefit from its recent OrthoLite acquisition. Earnings per share were GBP 0.044, down 6 %, and the interim dividend was lifted 5 % to $0.0105. Apparel revenue of £486 million grew 1 % organically, helped by market share gains in China and automotive threads, whereas footwear revenue remained flat. CEO David Paja highlighted the benefits of faster fashion cycles and continued investment in technology and sustainability.