Presco Reports Record 2025 Performance at 33rd AGM

Presco Plc, Nigeria's leading agro-industrial company, reported record financial performance for 2025 at its 33rd Annual General Meeting (AGM). Revenue increased by 59.3% to ₦330.6 billion, while Profit Before Tax (PBT) rose 57.1% to ₦177.9 billion and Profit After Tax (PAT) grew 56.1% to ₦121.4 billion. EBITDA expanded 43.7% to ₦211.8 billion, and total assets grew 94.9% to ₦926.0 billion.

A major ₦236.7 billion rights issue more than doubled total equity to ₦442.7 billion, bolstering the balance sheet and supporting growth plans. The Company approved a final dividend of ₦14.66 per 50 kobo ordinary share, totaling ₦44.66 per share, demonstrating a balanced approach between reinvestment and shareholder returns. Chairman Rasheed Olakanmi Sarumi praised the management's execution and thanked the Board for their oversight.

New Directors Ademola Adebise, Adewale Arikawe, and Francois VanHoydonck were confirmed, while current Directors Sarumi, Akhor Bello, Ukoh, and Alile were re-elected. The Company's strategic acquisitions in Ghana - the full ownership of GOPDC and acquisition of SOP - expanded its plantation base and production capacity, positioning Presco for medium- to long-term growth.

CEO Reji George emphasized scaling operations, improving efficiency, and creating sustainable value for shareholders. The Board acknowledged the retirement of former MD/CEO Felix Nwabuko, expressing gratitude for his contributions. Moving forward, Presco will focus on operational harmonization, synergy capture, cost optimization, and pursuing growth opportunities aligned with its long-term strategy.