Presco’s Revenue Rises 12.7% To N222bn In 9 Months

Presco Plc has recorded a 12.7 per cent growth in revenue from its Nigerian market to N222 billion in the nine months ended September 30, 2026, highlighting the strength of its core domestic market despite global and domestic pressures.

The company announced its nine months results on the Nigerian Exchange, reporting resilient performance across its plantations, processing facilities and supply chain.

Group Profit Before Tax grew by 8.5 per cent year-on-year to N151.5 billion, achieved despite prevailing inflation and declining edible oil prices. Presco standalone PBT saw a more substantial 12.7 per cent increase to N96.9 billion, with standalone Profit after tax rising 11.9 per cent to N68.7 billion.

Group gross profit remained robust at N202.8 billion, with margins exceeding 73 per cent. Presco’s standalone cost of sales declined by 6.2 per cent to N46.2 billion, reflecting improved cost management and operational efficiency.

Revenue from Nigeria increased to N222.0 billion, while its subsidiary Siat Nigeria Limited also reported significant revenue and PBT growth.

The company also strengthened its balance sheet significantly. Total Group borrowings were reduced by approximately 57 per cent to N137.1 billion, a reduction of N180.2 billion, while total Group liabilities decreased by 42.4 per cent to N278.2 billion. Group finance costs fell by 34.5 per cent to N19.6 billion from N30.0 billion.

Group shareholders’ equity grew by 10.1 per cent to N487.3 billion, with retained earnings increasing to N253.5 billion. Cash position stood at N135.2 billion.

Looking ahead, Presco said the commencement of Fresh Fruit Bunches production from the recently acquired Saro Oil Palm Limited plantation in Q4 is set to boost future operational and financial performance.

The managing director and chief executive officer, Presco, Reji George, said the comprehensive business operations remain robust and well-positioned.

“Across our plantations, processing facilities, and supply chain, we have maintained disciplined cost management and optimized productivity. Our diversified operational approach and strategic investments have enabled us to withstand economic headwinds while delivering growth,” George said.

He added that the new Saro plantation is a key catalyst that will further enhance production capacity and profitability.

“As we approach the end of 2026, our strategic focus remains on leveraging operational efficiencies, expanding productive capacity and reinforcing our commitment to sustainability. We are confident in our ability to close the year strongly and deliver long-term value,” he said.