Presco Plc has announced an 8.5% year-on-year increase in its Profit Before Tax (PBT), reaching ₦151.5 billion for the first nine months of 2026.
The company declared the profits despite navigating a challenging macroeconomic climate marked by global geopolitical uncertainties, domestic inflation, and declining edible oil prices, the company demonstrated strong operational resilience.
On a standalone basis, Presco’s PBT advanced by 12.7% to ₦96.9 billion, while Profit After Tax rose 11.9% to ₦68.7 billion.
Presco’s standalone cost of sales declined by 6.2% to ₦46.2 billion, maintaining a robust group gross profit of ₦202.8 billion with margins exceeding 73%.
Through aggressive balance sheet management, total group borrowings were slashed by approximately 57%, a reduction of ₦180.2 billion down to ₦137.1 billion while total liabilities contracted by 42.4% to ₦278.2 billion.
Consequently, group finance costs dropped by 34.5% to ₦19.6 billion.
The company also expanded its shareholders’ equity by 10.1% to ₦487.3 billion, backed by a strong cash position of ₦135.2 billion and retained earnings of ₦253.5 billion. Domestic market demand remained solid, with revenue generated from Nigeria increasing by 12.7% to ₦222.0 billion.
Commenting on the results, Managing Director and Chief Executive Officer Reji George attributed the strong performance to disciplined cost management, productivity optimization, and a diversified operational approach.
George noted that the ongoing integration and commencement of Fresh Fruit Bunches production from the recently acquired Saro Oil Palm Limited plantation in the fourth quarter will serve as a key catalyst for enhanced production capacity and future profitability.
