Presco Plc has reported a 9.3 per cent increase in profit before tax (PBT) to ₦122.2 billion for the first half of 2026, compared with ₦111.9 billion recorded in the corresponding period of 2025.
The company also proposed an interim dividend of ₦10 per ordinary share, as it seeks to maintain shareholder returns amid challenging operating conditions.
According to the company’s unaudited H1 2026 financial results, revenue remained largely unchanged at ₦198.8 billion, compared with ₦198.7 billion in H1 2025.
Presco’s EBITDA stood at ₦123.1 billion, representing a margin of 61.9 per cent.
The company also recorded significant improvements in its balance sheet during the period. Total equity increased by 13.8 per cent to ₦503.6 billion, while total liabilities declined by 42.5 per cent to ₦277.8 billion.
Retained earnings also rose by 34 per cent to ₦258.4 billion, while the company reported a current ratio of 345.6 per cent, indicating strong liquidity.
Presco attributed the growth in PBT largely to a 31.9 per cent reduction in finance costs, alongside disciplined cost management and operational efficiency.
Commenting on the results, Presco Managing Director and Chief Executive Officer, Reji George, said the performance demonstrated the strength of the company’s business model despite a difficult operating environment and softer crude palm oil prices.
He said the reduction in financing costs, stronger equity position and lower liabilities had further strengthened the company’s financial foundation.
George added that the proposed ₦10 interim dividend reflected the company’s confidence in its business outlook and commitment to rewarding shareholders.
Meanwhile, Presco disclosed that its 2025 Annual General Meeting has been postponed due to pending appeals arising from court rulings concerning its 2024 and 2025 AGMs.
The company said it is awaiting the Court of Appeal’s judgment and reaffirmed its commitment to corporate governance, regulatory compliance and transparency with shareholders.
Presco Plc is an integrated agro-industrial company involved in oil-palm cultivation and the production, refining and marketing of specialty fats and oils, with operations extending across West Africa.
