Shares of Presco Plc have surged over 19% month-to-date in February, surpassing both the N600 and N700 thresholds, up from the N475 level at the start of the year.
In its financial report released on January 31, 2025, the company reported a full-year pre-tax profit of N128 billion, representing a 156.05% rise compared to the N50 billion from 2023.
Total revenue for fiscal year 2024 reached N198.1 billion, up 93.48% from N102.4 billion the previous year, with 90.2% of sales coming from Nigeria and the remainder from Ghana.
Before releasing its financial results, Presco Plc unveiled plans to raise N100 billion through Series 1 of its N150 billion bond program, marking the largest corporate bond issuance in the sector.
So far in February, the stock has risen by 19%, with a market volume of 9.2 million shares traded, boosting its year-to-date performance to over 60%.
Market trend
Presco Plc is experiencing a long-term upward trend, with a year-to-date performance of 146% in 2024.
In 2025, the stock has continued to show a positive movement, finishing January on a favorable note and likely sustaining the trend to the end of February.
- So far in the year, the stock has closed in the green for six out of seven weeks.
Presco has risen from N475 at the start of the year, recently surpassing the N700 mark, and currently sits at N770 as of February 19, 2025, along with a monthly market volume of 9.2 million shares.
Possible drivers of bullish action
In January 2025, Presco Plc announced a N100 billion bond raise, part of a N150 billion program, to acquire the Ghana Oil Palm Development Company Limited (GOPDC).
- According to the company, the bond will have a seven-year tenure, with a yield range of 23.25% to 23.75%.
On January 31, 2025, the company released its financial report for fiscal year 2024, showing total revenue of N198.1 billion, a 93.48% increase from N102.4 billion in the previous year. Notably, 90.2% of sales came from Nigeria, with the remainder from Ghana.
Despite a 68.66% rise in the cost of sales, Presco’s gross profit rose by 107.74% to N135 billion, up from N65 billion the previous year.
- The company reported a pre-tax profit of N128 billion, representing a 156.05% increase compared to the N50 billion reported for 2023.
While the precise factors driving the company’s share performance in 2025 are unclear, these recent developments may have attracted some investor interest.
In a late December interview, Managing Director and CEO Reji George mentioned the company’s focus for 2025:
“Our priorities for 2025 will be sustainable agricultural practices, fertilization driven by research, and staff training.”
