By Lucy Ogalue
Presco Plc has announced a 128.7 per cent surge in Profit Before Tax (PBT), reaching N113.2 billion for the financial year ended Dec. 31, 2024.
Managing Director and Chief Executive Officer of Presco Plc, Mr Reji George, told the News Agency of Nigeria (NAN) in Abuja that the company also declared N42 final dividend per share in the year under review.
George said the agro-industrial giant also posted a 102.6 per cent increase in revenue, growing from N102.4 billion in 2023 to N207.5 billion in 2024.
He said the figures where contained in the company’s audited financial statements.
“Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose significantly by 125.2 per cent to N119.1 billion, reflecting strong operational efficiency across the company’s value chain.
“This performance is a testament of the company’s resilience and strategic focus.
“We are deeply grateful for the continued trust of our investors, business community and dedicated workforce, who have been instrumental in achieving these exceptional results,” he said.
George disclosed that the company acquired a 52 per cent equity stake in Ghana Oil Palm Development Company Limited (GODPC) in August 2024, in line with its growth strategy.
He said further consolidation of the entity was ongoing in 2025.
“Presco’s share price also appreciated by 146 per cent over the financial year, reinforcing investor confidence in the company’s outlook.
“The company reaffirms its commitment to shared prosperity for its employees, host communities and stakeholders.
“This is as we continue to position ourself as Africa’s most profitable and sustainable edible oil producer in the country,” George said.
(NAN)