Presco Reports 57.1% Profit Increase, Nears N1 Trillion Assets

Presco announced a significant financial performance with a 57.1% increase in pre-tax profit, reaching N177.9 billion, and total assets approaching N1 trillion, specifically N926 billion. The company reported a revenue of N330.6 billion, marking a 59.3% year-on-year increase, while gross profit rose by 70.6% to N242.2 billion.

Operating profit stood at N214.9 billion, reflecting a 70.8% increase. The profit before tax margin improved to 64.1%.

Presco's total equity climbed by 109.6% to N442.7 billion, and current assets increased by 178.8%. The company plans to fully acquire the remaining 48% shareholding in the Ghana Oil Palm Development Company, aiming for 100% ownership to enhance its footprint in West Africa.

The acquisition of NSADOP Boki Palm Estate is also expected to expand its plantation footprint and contribute to long-term value creation by the first quarter of 2026. Managing Director Reji Georg emphasized the company's focus on sustainable long-term value creation and disciplined capital deployment.