Presco Plc (Bloomberg: PRESCO:NL | Reuters: PRESCO.LG | NGX: PRESCO), Nigeria’s leading fully integrated Edible Oil Business, today announced an improved performance for the first nine months of 2026 ended 30 September 2026 (“9M 2026”), highlighted by an 8.5% year-on-year increase in Profit Before Tax (PBT) to ₦151.5 billion. This PBT growth, achieved despite prevailing inflation and declining Edible Oil Prices, underscores the company’s operational resilience and strategic financial management.
Key Investor Highlights for 9M 2026:
- Resilient Profitability: Group Profit Before Tax (PBT) grew 8.5% YoY to N151.5 billion. Presco standalone PBT saw a substantial 12.7% increase to ₦96.9 billion, with standalone Profit After Tax rising 11.9% to ₦68.7 billion, demonstrating strong underlying earnings capacity.
- Operational Efficiency Gains: Presco’s standalone cost of sales declined by 6.2% to ₦46.2 billion, reflecting improved cost management. Group gross profit remained robust at ₦202.8 billion, with margins exceeding 73%.
- Deleveraging and Financial Strength: Total Group borrowings were reduced by approximately 57% to ₦137.1 billion (a reduction of ₦180.2 billion). Total Group liabilities decreased by 42.4% to ₦278.2 billion. This substantial deleveraging enhances financial flexibility for future growth.
- Reducing Finance Costs: Group finance costs saw a significant reduction of 34.5%, decreasing from ₦30.0 billion to ₦19.6 billion, a direct benefit of active balance sheet management.
- Strengthened Equity and Liquidity: Group shareholders’ equity grew 10.1% to ₦487.3 billion, with retained earnings increasing to ₦253.5 billion. The company maintained a substantial cash position of ₦135.2 billion.
- Domestic Market Strength: Revenue from Nigeria increased by 12.7% to ₦222.0 billion, highlighting the strength of the Group’s core market. SNL also reported significant revenue and PBT growth.
- Strategic Growth Initiatives: 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.
Presco Plc’s resilient integrated business model, strategic investments, and operational efficiencies have strengthened its financial performance and balance sheet, positioning the company for sustained growth and market leadership in Nigeria and West Africa’s edible oils industry. Through a continued focus on operational excellence, sustainability, and long-term value creation, Presco remains well-positioned to deliver sustainable returns to shareholders.
MD’s Commentary
Commenting on the results, Reji George, Managing Director/ Chief Executive Officer of Presco Plc, said:
“Our comprehensive business operations remain robust and well-positioned for continued success. Across our plantations, processing facilities, and supply chain, we have maintained disciplined cost management and optimized productivity, which has translated into strong financial results. Our diversified operational approach and strategic investments have enabled us to withstand economic headwinds while delivering growth. The commencement of Fresh Fruit bunches production from our new Saro Oil Palm Limited plantation in Q4 is a key catalyst that will further enhance our production capacity and profitability.
As we approach the end of 2026, our strategic focus remains on leveraging operational efficiencies, expanding our productive capacity, and reinforcing our commitment to sustainability. We are confident in our ability to close the year strongly and deliver long-term value, supported by our resilient business model and proactive management approach. As an organization, We remain committed to sustainable practices that support long-term value creation, ensuring we deliver superior returns to our shareholders while upholding our environmental and social responsibilities.”
For more information about Presco Plc and its financial reports, visit www.presco-plc.com.
