Presco posts N151.5bn profit before tax in nine months

Presco Plc announced a stronger financial performance for the first nine months of 2026, with a 8.5% increase in profit before tax to N151.5bn. The company's profit after tax rose 11.9% to N68.7bn, reflecting its resilience amid domestic inflation and lower global edible oil prices. Operating profit for the standalone group grew 12.7% to N96.9bn, while revenue from Nigeria increased 12.7% to N222.0bn.

Gross profit remained strong at N202.8bn with margins exceeding 73%. Cost of sales declined 6.2% to N46.2bn due to internal cost management. The company reduced its debt exposure by 57% to N137.1bn, cutting total liabilities by 42.4% to N278.2bn. Shareholders' equity grew 10.1% to N487.3bn. Presco's Managing Director, Reji George, credited disciplined cost control and productivity optimization for the results, and expressed confidence in further growth.