Presco posts strong 2025 results as expansion plans gather pace
The Nigerian palm oil producer reports sharp profit growth and pushes ahead with regional acquisitions.
NIGERIA – Nigeria’s agro-industrial giant, Presco Plc, has reported strong financial results for 2025, driven by higher revenue, firm margins, and ongoing investments across West Africa.
The company recorded a 57.1 per cent rise in profit before tax to N177.9 billion (US$111 million). Revenue grew by 59.3 per cent to N330.6 billion (US$206 million), while profit after tax reached N121.5 billion (US$76 million), up 56.1 per cent.
Gross profit climbed to N242.2 billion (US$151 million), and operating profit increased to N214.9 billion (US$134 million). Earnings before interest, taxes, depreciation and amortisation stood at N211.8 billion (US$132 million), with a margin of 64.1 per cent.
The company also expanded its balance sheet. Total equity rose by 109.6 per cent to N442.7 billion (US$277 million), while total assets grew by 94.9 per cent to N926 billion (US$579 million). Current assets increased by 178.8 per cent, which improved liquidity and supported further growth.
Managing Director and Chief Executive Officer Reji George described the year as “a defining year” and pointed to earnings growth, capital raising, and acquisitions as key drivers. He added that the company continues to integrate new assets as planned.
Presco has also strengthened its position in the edible oils sector through acquisitions. It completed the purchase of the remaining 48 per cent stake in Ghana Oil Palm Development Company, gaining full ownership. The company also acquired the Nsadop Boki Palm Estate to expand its plantation base and support long-term output.
Early 2026 results show continued growth. First quarter figures indicate a 7.5 per cent rise in revenue and an 18.2 per cent increase in profit before tax. Margins improved to 68.7 per cent.
Earlier expansion plans also remain on track. The company had sought approval to acquire a 100 per cent stake in Ghana Oil Palm Development Company for US$124.9 million and Saro Oil Palm Limited for US$46.7 million.
These deals aim to increase plantation size by 37 per cent, from about 43,547 hectares to 59,760 hectares. To fund these moves, Presco proposed a N250 billion (US$156 million) rights issue to cover acquisition costs, manage debt, and support future growth.
With rising output, wider regional reach, and steady earnings, Presco continues to strengthen its position in the West African palm oil market.
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