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

Presco Plc has announced an improved performance for the nine months ended September 30, 2026, as profit before tax moved to N151.5 billion, about 8.5 per cent increase over N139.65 billion reported in nine months of ended September 30, 2025. The 8.5 per cent profit before tax growth was achieved despite prevailing inflation and declining Edible Oil Prices, underscores the company’ s operational resilience and strategic financial management. From the unaudited result and accounts posted on the Nigerian Exchange Limited (NGX), Nigeria’s leading fully integrated Edible Oil Business, announced profit after tax of N111.18 billion in nine months 2026, representing an increase of 0.35per cent from N110.8 billion reported in nine months of 2025. The company’s standalone profit before tax saw a substantial 12.7per cent increase to N96.9 billion, with standalone profit after tax rising 11.9 per cent to N68.7 billion, demonstrating strong underlying earnings capacity. Also, Presco’s standalone cost of sales stood at N46.2 billion, a decline of 6.2per cent from N49.28 billion in nine months of 2025 to reflect improved cost management. Group gross profit remained robust at N202.8 billion, with margins exceeding 73per cent. Revenue closed nine months of 2026 at N276.54billion, about 0.74 per cent from N274.5 billion as revenue from Nigeria moved to N222.0 billion, representing an increase of 12.7per cent. It highlights the strength of the Group’s core market. SNL also reported significant revenue and PBT growth. The company disclosed plans to commence Fresh Fruit Bunches production from the recently acquired Saro Oil Palm Limited plantation in Q4 is set to boost future operational and financial performance. Commenting on the results,Managing Director/ Chief Executive Officer of Presco, Reji George in a statement said:“Our comprehensive business operations remain robust and well-positioned for continued success. Across our plantations, processing facilities, and supply chain, we have maintained disciplined cost management and optimized productivity, which has translated into strong financial results. \ “Our diversified operational approach and strategic investments have enabled us to withstand economic headwinds while delivering growth. The commencement of Fresh Fruit bunches production from our new Saro Oil Palm Limited plantation in Q4 is a key catalyst that will further enhance our production capacity and profitability. “As we approach the end of 2026, our strategic focus remains on leveraging operational efficiencies, expanding our productive capacity, and reinforcing our commitment to sustainability. We are confident in our ability to close the year strongly and deliver long-term value, supported by our resilient business model and proactive management approach. “As an organization, We remain committed to sustainable practices that support long-term value creation, ensuring we deliver superior returns to our shareholders while upholding our environmental and social responsibilities.”