Presco Plc, Nigeria’s largest palm oil producer, achieved record profits, demonstrating resilience amid market recovery.
Between January and September, the company grew profit after tax by 114% to ₦110.8 billion.
Presco Plc Record-Breaking Profits
Moreover, revenue rose 113.5% to ₦274.5 billion, driven by efficiency and stronger agricultural yields.
Meanwhile, the naira’s stability and easing inflation supported Presco’s impressive earnings growth.
Strong Operational Performance
As a result, gross profit jumped 118.5% to ₦202.1 billion, reflecting disciplined cost management.
Similarly, operating profit climbed 121.5% to ₦166.0 billion, while EBITDA reached ₦170.9 billion, up 118.1%.
Consequently, the board approved an additional interim dividend of ₦10 per share, rewarding shareholder confidence.
Furthermore, earnings per share increased 114% to ₦110.79, reinforcing Presco’s commitment to shareholder value.
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“Disciplined execution and innovation turned efficiency into measurable growth,” said managing director Reji George.
Market and Investor Confidence
In addition, global palm oil trends favoured Presco, as Malaysian CPO prices rose 7.5%.
Also, Indonesia’s B40 biodiesel mandate diverted production to domestic use, boosting international palm oil prices.
Investors responded strongly, pushing Presco shares up 212% this year to ₦1,479.90.
Overall, Presco’s performance demonstrates resilience, strategic planning, and operational strength, setting a benchmark for Nigeria’s agricultural sector.
