Presco Plc reported an unaudited pre-tax profit of N122.2 billion for the six months ended June 30, 2026, up 9.3% from N111.9 billion in the corresponding period of 2025, according to results filed with the Nigerian Exchange. The Board has approved an interim dividend of N10 per share.
The growth came despite what the company described as a high-cost operating environment and softer crude palm oil prices, with the improvement attributed largely to a 31.9% reduction in finance costs and tighter cost discipline. Revenue was broadly flat at N198.8 billion, against N198.7 billion in H1 2025, while EBITDA stood at N123.1 billion, translating to a margin of 61.9%.
Presco’s balance sheet strengthened further during the period. Total equity rose 13.8% to N503.6 billion, while total liabilities fell 42.5% to N277.8 billion. Retained earnings climbed 34.0% to N258.4 billion, and the current ratio stood at 345.6%, pointing to a comfortable liquidity position.
Management noted that the half-year PBT already represents 69% of full-year 2025 pre-tax profit, while revenue has crossed 60% of the prior year’s full-year figure, an indication, the company said, of resilience heading into the second half.
Reji George, Managing Director/CEO of Presco, said the results reflected deliberate cost optimisation and balance sheet discipline, adding that the reduction in financing costs was a key driver of the improved bottom line. He said the interim dividend signals the Board’s confidence in the business’s trajectory.
Separately, the company disclosed that its 2025 Annual General Meeting remains postponed pending the outcome of court appeals tied to the 2024 and 2025 AGMs, with Presco saying it awaits a Court of Appeal ruling before proceeding.
Presco, whose operations span cultivation, processing and refining of palm oil products, is backed by subsidiaries Ghana Oil Palm Development Company (GOPDC), Siat Nigeria, and Saro Oil Palm, which extend its footprint across West Africa.
