Presco Plc has revealed a robust financial performance for the nine months ending September 30, 2026, reporting a profit before tax of N151.5 billion, marking an 8.5% increase from the previous year. This growth comes in the face of ongoing domestic inflation and declining global edible oil prices, highlighting the company's operational resilience and effective management strategies.

The integrated edible oil producer reported a 12.7% rise in standalone profit before tax, reaching N96.9 billion, while profit after tax also saw an increase of 11.9%, amounting to N68.7 billion. Revenue from Nigerian operations surged by 12.7%, totaling N222.0 billion, and the group maintained a strong gross profit of N202.8 billion, with profit margins exceeding 73%.

On the cost side, Presco successfully reduced its standalone cost of sales by 6.2%, bringing it down to N46.2 billion, thanks to effective internal cost management measures. The company's financial health is further underscored by a significant reduction in debt, with total borrowings decreasing by 57% to N137.1 billion, representing a total debt reduction of N180.2 billion. Additionally, total group liabilities fell by 42.4% to N278.2 billion, resulting in a 34.5% decrease in group finance costs, from N30.0 billion to N19.6 billion.

Shareholders' equity also saw a positive trend, increasing by 10.1% to N487.3 billion, bolstered by a rise in retained earnings to N253.5 billion. The company reported a cash position of N135.2 billion as of September 30, 2026.

Reji George, the Managing Director and Chief Executive Officer of Presco Plc, attributed the strong performance to disciplined cost control and productivity optimization throughout the supply chain. He stated, "Our comprehensive business operations remain robust and well-positioned for continued success. Across our plantations, processing facilities, and supply chain, we have maintained disciplined cost management and optimized productivity, which has translated into strong financial results."

George also highlighted the recent acquisition of Saro Oil Palm Limited, noting that the production of fresh fruit bunches from this plantation in the fourth quarter is expected to enhance production capacity and profitability. He expressed confidence in Presco's strategic focus on operational efficiencies and sustainability, stating, "We are confident in our ability to close the year strongly and deliver long-term value, supported by our resilient business model and proactive management approach."

The company's operations, supported by subsidiaries such as Ghana Oil Palm Development Company Limited and Siat Nigeria Limited, continue to strengthen Presco's presence across the West African region, positioning it for future growth amidst economic challenges.