Nigeria, Aug. 1 -- Investment company VFD Group recorded a twofold increase in net profit for the first half of the year, supported by a significant improvement in investment income, its unaudited report for the period issued Friday showed.

VFD Group is proprietary and investment-focused, meaning it invests in target companies for direct market gain, unlike investment banks, which invest on behalf of others.

It has investments in companies as diverse as the Nigerian Exchange Group, Veritas Kapital Assurance, NASD Plc and CSCS Plc, according to information on its website.

Revenue advanced to N53.7 billion from N41.2 billion a year ago, deriving strength largely from investment income, which was up by 102.8 per cent. Net investment incom...