Presco Plc, one of Nigeria’s leading integrated agro-industrial companies, has announced a remarkable profit of N110.8 billion for its third-quarter financial results, reflecting a significant improvement in both revenue and operational performance. The company’s performance underscores its resilience and efficiency in navigating Nigeria’s challenging business environment, driven largely by increased output, improved cost management, and strategic expansion in its oil palm value chain.
According to the company’s financial statement released to investors, Presco’s profit for the period surged on the back of higher production volumes, enhanced processing capacity, and favourable pricing of palm oil products both locally and internationally. The report highlighted that revenue rose substantially due to increased sales of crude palm oil (CPO), palm kernel oil, and related by-products, cementing the company’s position as a major player in Nigeria’s agro-industrial sector.
Presco’s management attributed the impressive result to operational discipline and consistent investment in technology and sustainability. The firm’s Executive Vice Chairman, Felix Nwabuko, said that the company had focused on optimising its plantations, improving yield per hectare, and reducing operational costs through modern agricultural practices and renewable energy utilisation.
“This performance reflects the collective effort of our management, staff, and stakeholders who remain committed to operational excellence and sustainable growth. Despite economic headwinds, including inflation and exchange rate fluctuations, we have continued to demonstrate that Nigeria’s agricultural sector can thrive with the right strategy and long-term vision,” Nwabuko stated.
He added that the company’s expansion projects across Edo and Delta States have begun to yield tangible results, with newly planted palm trees reaching maturity and contributing to higher extraction rates. According to him, the company is also intensifying efforts to add value to its by-products, thereby diversifying its revenue streams and reducing waste.
Financial analysts have hailed Presco’s performance as one of the strongest in Nigeria’s agro-industry this year. According to industry observers, the company’s results not only highlight the potential of agribusiness as a revenue generator but also reflect a growing investor confidence in agriculture as a key driver of Nigeria’s economic diversification agenda.
Analyst and agricultural economist Dr. Funmi Ajayi noted that Presco’s results signal the rewards of long-term investment in value addition and backward integration. “Presco has demonstrated what can be achieved when agribusinesses move beyond cultivation to full-scale processing and distribution. Their strong profit margin indicates that local agro-processors can compete globally if they continue to innovate and maintain efficiency,” she said.
In addition to profitability, Presco maintained a healthy balance sheet with steady cash flow, enabling it to fund ongoing projects and meet operational needs without resorting to excessive borrowing. The company’s total assets also recorded a year-on-year increase, reflecting the continued expansion of its plantation estates, processing plants, and refinery units.
The firm’s strategic focus on sustainability and environmental stewardship has also strengthened its reputation in the industry. Presco has been recognised for its commitment to best environmental practices, including reforestation, waste recycling, and the generation of biogas from palm waste materials to power its operations.
Nwabuko reiterated that sustainability remains central to Presco’s growth model, adding that the company is investing in renewable energy to reduce its carbon footprint. “Our operations are designed to ensure minimal environmental impact while maximising productivity. We are exploring new technologies to enhance energy efficiency and water conservation across all our facilities,” he said.
Beyond its financial achievements, Presco continues to play a vital role in community development and job creation. The company employs thousands of Nigerians directly and indirectly across its plantations and factories. It has also provided social amenities, including schools, healthcare facilities, and roads, to communities around its operational areas, aligning with its corporate social responsibility (CSR) goals.
The company’s success has also had a ripple effect on the local economy by supporting smallholder farmers through training and outgrower schemes. These initiatives have helped improve farmers’ productivity and access to markets while boosting the overall supply chain efficiency of palm oil production in Nigeria.
Presco’s shareholders have expressed optimism about the company’s trajectory, with expectations of potential dividend declarations at the end of the financial year. The strong performance has also led to increased interest from institutional investors who see the company as a stable and profitable entity in a volatile market.
Looking ahead, Presco Plc said it would continue to focus on consolidating its market position and expanding into new areas of agribusiness. The company plans to invest in advanced refining technology, increase export capacity, and explore value-added consumer products derived from palm oil.
Economic experts believe that Presco’s performance provides an encouraging signal for Nigeria’s drive toward self-sufficiency in palm oil production. With rising global demand and supportive government policies, companies like Presco are well positioned to lead Nigeria’s agricultural resurgence.
As of the close of the reporting period, Presco reaffirmed its commitment to maintaining transparency, good corporate governance, and stakeholder value creation. The company’s N110.8 billion profit not only reflects its strong fundamentals but also positions it as one of Nigeria’s most successful agro-industrial enterprises.
The firm’s continued growth trajectory, analysts say, could further enhance Nigeria’s non-oil export profile and contribute meaningfully to the nation’s GDP — reinforcing agriculture’s role as a cornerstone of sustainable national development.
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