Presco Records N58.6bn Pre-tax Profit In Q1

Presco Plc, its unaudited financial results for the first quarter ended 31 March 2025, achieved N58.6 billion profit before tax.

The company’s Q1 results released on the Nigerian Exchange Limited showed a record-breaking profitability and continued operational momentum. The Group delivered N58.6 billion in profit before tax for Q1 2025, representing a 97.6 per cent year-on-year increase compared to N29.7 billion in Q1 2024. This milestone reflects Presco’s strong production output, operational discipline, and a sustained focus on efficiency and value creation.

Revenue for the quarter grew by 120.4 per cent to N93.8 billion, up from N42.5 billion in the previous year. Gross profit surged by 154.8 per cent to N86.1 billion, while operating profit reached N69.1 billion, up 117.6 per cent year-on-year. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at N71.6 billion, a 117.9 per cent increase, and earnings per share rose by 97.8 per cent to N4.76.

Speaking on the Q1 performance, the managing director of Presco, Reji George stated, “our Q1 2025 results mark a defining moment in our growth trajectory. Achieving N58.6 billion in profit before tax reflects not only the strength of our integrated business model but also the dedication of our team and the trust of our stakeholders. We have maintained strong momentum through disciplined execution, operational excellence, and a focus on sustainable value creation.”

He added that, “as we look ahead to the rest of 2025, we are confident in our ability to deliver strong results, strengthen our leadership in the edible oil sector, and continue building long-term value for our shareholders.”

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Presco disclosed the acquisition of the remaining 48.0 per cent stake in Ghanaian Oil Palm Development Company (GOPDC), increasing its ownership to 100 per cent. The total purchase consideration by Presco for GOPDC amounted to N195.1 billion.

Presco Plc is a fully integrated edible oils company engaged in the cultivation of oil palm and the production, refining, and marketing of specialty fats and oils. Its operations are strengthened by its key subsidiaries: Ghana Oil Palm Development Company Limited (GOPDC) and Siat Nigeria Limited, which extends its footprint and enhance its market leadership across West Africa.