Presco Plc, one of Nigeria’s leading palm oil producers, has announced a remarkable 78% increase in profit after tax to N138.116 billion for the year ended December 31, 2025, up from N77.793 billion recorded in the previous year, news.ng reports.
The palm oil giant disclosed its financial statements, made available on the Nigerian Exchange Limited (NGX) website on Monday.
The company’s revenue climbed 59.6% to N331.189 billion in 2025, compared to N207.504 billion in 2024, reflecting strong demand and improved pricing in the agricultural commodities sector.
Gross profit expanded significantly to N228.207 billion from N139.942 billion, representing a 63% year-on-year growth. The company’s cost of sales rose proportionately to N102.982 billion from N67.562 billion as production scaled up.
According to the statement, operating profit before finance costs surged 70% to N214.385 billion, up from N126.106 billion in 2024, driven primarily by a substantial gain on biological asset valuation of N32.896 billion compared to N28.999 billion in the prior year.
Earnings per share jumped to N134.38 from N74.01 in the previous year, representing an 81.5% increase and signalling strong returns for shareholders. The company’s profit margin also improved significantly, demonstrating gains in operational efficiency.
Administrative expenses rose to N53.724 billion from N36.161 billion, reflecting inflationary pressures and business expansion costs. However, this increase was well offset by revenue growth and operational gains.
The company’s total assets nearly doubled to N833.395 billion as of December 31, 2025, from N475.096 billion in 2024, underscoring aggressive expansion and asset accumulation.
Biological assets, a critical component for the palm oil producer, increased to N99.005 billion from N70.505 billion, indicating plantation maturity and improved yields.
Equity attributable to owners more than tripled to N426.660 billion from N133.439 billion, while retained earnings jumped to N192.845 billion from N126.729 billion, providing a robust foundation for future growth.
The October–December 2025 quarter showed particularly strong performance, with profit after tax reaching N27.459 billion on revenue of N56.688 billion, compared to N52.514 billion in profit on N69.588 billion in revenue in the same period of 2024.
Total current assets rose to N485.697 billion from N170.753 billion, with cash and bank balances improving to N279.686 billion from N71.403 billion, providing strong liquidity for operations and expansion.
However, borrowings increased substantially to N146.059 billion from N46.544 billion in non-current liabilities, along with N18.043 billion in current borrowings, reflecting the company’s financing of its expansion programme.
At the company level, Presco Plc recorded a profit after tax of N84.671 billion on revenue of N208.799 billion, with earnings per share of N82.14, demonstrating the parent company’s solid standalone performance.
The results reflect Presco’s successful navigation of Nigeria’s challenging economic environment and its ability to capitalise on strong global and domestic demand for palm oil products. The company’s investment in biological assets and operational infrastructure appears to be yielding significant returns as plantations mature and productivity improves.
