KEY POINTS
- Presco profit growth more than doubled year-on-year.
- Dividend declared, signaling strong investor confidence.
- Expansion continues under Chairman Rasheed Sarumi.
Presco Plc, Nigeria’s largest integrated palm processor, posted a more than twofold rise in profit for the nine months ended Sept. 30, 2025, buoyed by high palm oil prices and robust demand across its product lines.
Profit went up from N51.76 billion ($35.4 million) a year ago to N110.79 billion ($75.7 million). Revenue rose from N128.6 billion ($87.9 million) to N274.5 billion ($187.5 million) thanks to higher production and better operating efficiency.
Dividend reflects confidence in Presco profit growth
The company attributed the performance to efficiency gains, better agricultural yields, and resilient consumer spending despite Nigeria’s challenging macroeconomic conditions. “Our results show the strength of our model in an evolving economy,” Managing Director Reji George said.
Earnings per share jumped 114 percent from the previous year, which led to an extra interim dividend of N10 ($0.0068) per share. A sign of confidence in Presco’s fundamentals and its commitment to shareholder returns.
Sarumi leads Presco profit momentum and expansion
Under Chairman Rasheed Sarumi, appointed in May 2024, Presco has expanded production and strengthened its balance sheet. Total assets rose to N612.8 billion ($419.7 million) as of Sept. 30, 2025, from N475.1 billion ($325.2 million) at the end of 2024. Retained earnings increased to N195.5 billion ($133.9 million) from N126.7 billion ($86.3 million).
Operating from Edo State and listed on the NGX, Presco runs plantations, mills, and packaging plants while generating biogas for cleaner energy. According to Billionaires Africa, the company remains a cornerstone in Nigeria’s drive to boost local production and reduce palm oil imports.
