Presco Plc has reported a stellar performance for the first half of 2025, with revenue more than doubling by 126% year-on-year to ₦198.74 billion, up from ₦88.02 billion in H1 2024.
This explosive growth was largely driven by increased sales of refined palm products and fresh expansion into the Ghanaian Palm oil market.
Gross profit surged 164% to ₦173.25 billion, reflecting a sharp improvement in cost efficiency as cost of sales rose only 14% to ₦25.49 billion. Gross margin hit 87%, up from 75% the previous year, showcasing the company’s enhanced production leverage.
Operating profit jumped 138% year-on-year to ₦129.80 billion, supported by topline growth despite administrative expenses rising 167% to ₦40.61 billion. EBITDA climbed to ₦132.47 billion, up 133%, indicating growth in core business strength.
“Presco’s operational performance in H1 reflects strong pricing power and scale efficiencies, while the Ghana acquisition boosts long-term potential,” said Reji George, Managing Director.
Net interest expenses surged over 300% to ₦17.95 billion, due to the company’s ₦82.9 billion bond raised for its acquisition of Ghana Oil Palm Development Company (GOPDC).
Despite this, profit before tax more than doubled to ₦111.85 billion, and net profit soared 128% to ₦88.72 billion.
Earnings per share (EPS) reflected this momentum, climbing from ₦3.89 to ₦8.87, marking significant value accretion for shareholders.
Presco’s total assets rose 29% to ₦612.99 billion, mainly due to capital deployment for its acquisition of GOPDC.
