Presco Plc, Nigeria’s leading palm oil producer, delivered a strong third-quarter performance for 2025, with pre-tax profit climbing 66% year-on-year to N27.67 billion from N16.64 billion in the same period last year.
The performance underscores Presco’s growing dominance in Nigeria’s edible oil market despite mounting cost pressures across its operations.
The company’s nine-month pre-tax profit surged 108% to N139.65 billion, surpassing its entire 2024 full-year profit by 9%, highlighting sustained business momentum and improved productivity across its plantations and processing units.
Presco also posted record quarterly revenue of N75.76 billion in Q3 2025, representing an 87% increase year-on-year, while cumulative revenue for the first nine months hit N274.50 billion, the highest in the company’s history over any comparable period.
Reflecting confidence in its financial position, Presco’s Board of Directors declared a second interim dividend of N10 per share, payable on November 21, 2025, to shareholders on record as of November 7, 2025. The move rewards investors following a year of exceptional earnings and underscores the company’s commitment to consistent shareholder returns.
Reji George, Managing Director of Presco Plc, said, “Presco’s nine-month performance reflects not just strong numbers, but the strength of our model in an evolving Nigeria. As the country navigates new economic realities, our consistency and focus continue to stand out. We have stayed disciplined in execution, translating efficiency and innovation into real, measurable growth.”
While revenue and profits soared, the financials revealed notable cost escalation. Cost of sales ballooned 244% year-on-year to N46.92 billion in Q3, pushing the nine-month figure to N72.41 billion, up 101%. This surge trimmed Presco’s gross profit growth for the quarter to just 7.23%, at N28.84 billion, reducing the gross margin to 38%.
Still, on a cumulative basis, the company maintained resilience, with nine-month gross profit rising 118.5% year-on-year to N202 billion, yielding a robust 74% margin.
Operating profit in the quarter advanced 76% to N36.04 billion, supported by higher other operating income and significant foreign exchange gains, which helped offset mounting input and financing costs.
Finance costs jumped 161% to N10.48 billion in Q3, bringing total finance expenses for the nine-month period to N29.98 billion, a 255% surge from the prior year.
Despite this, Presco achieved a post-tax profit of N21.94 billion for Q3 2025, up 70% from N12.89 billion a year earlier, evidence of strong cash flow management and revenue diversification.
Balance Sheet
Presco’s total assets expanded 29% year-on-year to N612.82 billion, driven by new investments in property, plant, and equipment, which reached N290.37 billion.
Although total equity dipped 4.24% to N202.23 billion, retained earnings climbed sharply by 54% to N195.52 billion, reflecting improved profitability and reinvestment capacity.
As of October 22, 2025, Presco’s stock traded at N1,479.90 per share, marking a year-to-date gain of 212%, signaling strong investor confidence in the company’s long-term growth outlook.
The results cement Presco’s position as one of Nigeria’s most profitable agribusinesses, even as it navigates inflationary pressures and currency volatility in Africa’s largest economy.
