Presco plc reported profit before tax of N122.22 billion for the six months ended June 30, 2026, representing a 9.3% increase from N111.85 billion recorded in the corresponding period of 2025.
Revenue however remained largely unchanged at N198.75 billion while profit after tax fell to N82.27 billion from N88.72 billion as a significantly higher tax expense offset the gains at the pre-tax level. Basic earnings per share also declined to N71 from N89, reflecting the impact of the larger tax burden despite improved operating performance.
Total liabilities declined substantially as Presco used available cash to reduce debt, while shareholders’ equity increased 13.8% to approximately N503.6 billion.
The board proposed an interim dividend of N10.00 per ordinary share, signalling confidence in the company’s cash-generating ability despite the decline in reported cash balances.
Shareholders whose names appear on the register by Friday, August 14, 2026, will qualify for the payment, which is expected later in August.
