Presco Plc has announced its audited financial results for the year ended December 31, 2025, alongside unaudited results for the first quarter ended March 31, 2026, reporting strong growth across key financial metrics driven by operational expansion and a strengthened capital base.
The company, in a statement on Friday, stated that it posted revenue of N330.6bn, representing a 59.3 per cent year-on-year increase, while gross profit rose by 70.6 per cent to N242.2bn. Operating profit stood at N214.9bn, up 70.8 per cent, while earnings before interest, taxes, depreciation and amortisation was N211.8bn, with a margin of 64.1 per cent.
Profit before tax increased by 57.1 per cent to N177.9bn, while profit after tax rose by 56.1 per cent to N121.5bn. On the balance sheet, total equity climbed by 109.6 per cent to N442.7bn, while total assets rose by 94.9 per cent to N926.0bn, approaching the N1tn mark. Current assets increased by 178.8 per cent, supporting liquidity and growth capacity.
The company said the successful conclusion of its rights issue more than doubled total equity, strengthening its balance sheet and providing capacity to fund the next phase of growth.
It also announced the acquisition of the remaining 48 per cent shareholding in Ghana Oil Palm Development Company Limited, bringing its ownership to 100 per cent. The full consolidation of GOPDC is expected to strengthen Presco’s regional footprint in West Africa and enhance the subsidiary’s contribution to group earnings.
In addition, Presco completed the acquisition of Nsadop Boki Palm Estate, expanding its plantation footprint and production capacity, with the asset expected to contribute to long-term value creation.
For the first quarter of 2026, the company reported continued growth momentum, with revenue increasing by ₦7.1bn, representing a 7.5 per cent year-on-year rise. Profit before tax rose by ₦10.6bn, up 18.2 per cent, while the PBT margin improved to 68.7 per cent from 62.5 per cent in the corresponding period of 2025.
Commenting on the results, Managing Director and Chief Executive Officer, Reji George, said, “2025 was a defining year for Presco. Delivering 56.1 per cent growth in Profit After Tax to ₦121.5bn, while concurrently executing a successful rights issue and completing a major acquisition, reflects the strength of both our strategy and our execution.”
“These results are the product of a deliberate focus on sustainable, long-term value creation. We have strengthened the balance sheet, scaled our operations, and deployed shareholder capital with discipline.”
“Our outlook for 2026 remains positive. Q1 has delivered revenue growth of 7.5%, PBT growth of 18.2 per cent, and a PBT margin of 68.7 per cent. The integration of Nsadop Boki is progressing in line with expectations, and we see a significant opportunity ahead.”
“Our objective is unchanged: to deliver consistent, superior returns to our shareholders. Presco is today stronger, larger, and better positioned than at any point in its history.”
Presco Plc is a fully integrated edible oils company engaged in the cultivation of oil palm and the production, refining, and marketing of speciality fats and oils. Its operations are supported by subsidiaries including Ghana Oil Palm Development Company Limited and Siat Nigeria Limited, extending its footprint across West Africa.
