Presco reports 56% surge in profit to N121.5bn as revenue climbs on strong demand

Presco Plc has reported a 56.1 per cent increase in profit after tax to N121.5 billion for the financial year ended 31 December 2025, driven by stronger market demand and improved production efficiency.

In its audited results released on Sunday, the edible oils producer said profit before tax rose to N177.9 billion, while revenue grew by 59.3 per cent to N330.6 billion.

Gross profit climbed by 70.6 per cent to N242.2 billion, and operating profit increased by 70.8 per cent to N214.9 billion. Earnings before interest, tax, depreciation and amortisation stood at N211.8 billion, representing a margin of 64.1 per cent.

The company’s balance sheet also strengthened significantly, with total equity rising by 109.6 per cent year-on-year to N442.7 billion, while total assets increased by 94.9 per cent to N926 billion. Current assets recorded a 178.8 per cent increase over the period.

Presco attributed the performance to a series of strategic capital and operational decisions, including a successful rights issue that more than doubled its equity base and enhanced its expansion capacity.

The company also completed the acquisition of the remaining 48 per cent stake in Ghana Oil Palm Development Company Ltd., bringing the subsidiary under full ownership and strengthening its presence across West Africa.

It further highlighted the acquisition of Nsadop Boki Palm Estate, which expanded its plantation base and is expected to support long-term output and earnings growth.

The positive momentum has continued into 2026, with first-quarter revenue rising by 7.5 per cent year-on-year, adding N7.1 billion. Profit before tax for the period increased by 18.2 per cent to N10.6 billion, while the PBT margin improved to 68.7 per cent from 62.5 per cent in the corresponding period of 2025.

Presco said the results reflect sustained operational strength and consistent execution of its growth strategy into the new financial year.

Commenting on the performance, Managing Director and Chief Executive Officer, Mr Reji George, said, “Growing Profit Before Tax by 57.1 per cent to N177.9 billion, alongside 59.3 per cent revenue growth, reflects the underlying strength of our operations and the effectiveness of our strategy.

“2025 has been a defining year for Presco. Importantly, this growth is being sustained.

“First quarter of 2026 has already delivered an 18.2 per cent increase in Profit Before Tax and a margin of 68.7 per cent, evidence that our strategic actions are translating directly into earnings momentum.

“With a stronger capital base, a larger plantation footprint, and the ongoing integration of Nsadop Boki, the Company is well-positioned to continue delivering earnings growth.

“Our objective remains unchanged: to deliver consistent, superior returns to our shareholders. Presco is stronger, larger, and better positioned than at any point in its history.”