Presco Grows Profit by 8.5% to N151.5bn in Nine Months

Presco Plc, a leading Nigerian edible oil business, reported an 8.5% increase in profit before tax to N151.5 billion for the nine months ended September 30, 2026, from N139.65 billion in the same period last year. This growth was achieved despite inflation and declining edible oil prices, showcasing the company's operational resilience and efficient financial management.

The profit after tax reached N111.18 billion, a 0.35% increase from N110.8 billion in the same period of the previous year. Standalone profit before tax rose by 12.7% to N96.9 billion, while profit after tax increased by 11.9% to N68.7 billion. The company's cost of sales dropped by 6.2% to N46.2 billion, reflecting improved cost management.

Overall revenue for the period stood at N276.54 billion, a 0.74% increase from N274.5 billion. Management highlighted the strength of the core market and the upcoming Fresh Fruit Bunches production from the newly acquired Saro Oil Palm Limited plantation, set to begin in Q4, which will further boost operational and financial performance.

CEO Reji George emphasized the company's robust business operations and strategic investments, which have enabled it to withstand economic challenges while delivering growth. The management expressed confidence in their ability to close the year strongly and deliver long-term value through operational efficiencies, expanded capacity, and a commitment to sustainability.