Presco Plc has released its unaudited financial statements for the third quarter ended September 30, 2025, reporting a pre-tax profit of N27.67 billion, representing a 66% year-on-year (YoY) growth from N16.64 billion recorded in Q3 2024.
This strong quarterly performance, combined with earlier results, brought the nine-month pre-tax profit to N139.653 billion, a 108% YoY increase and already 9% higher than the company’s full-year 2024 profit.
Presco also sustained its robust revenue growth, posting N75.764 billion in Q3 2025, up 87% YoY, which boosted the nine-month revenue to N274.50 billion, surpassing the company’s annual revenue for any of the past five years.
Following this record performance, the Board of Directors approved a second interim dividend of N10 per share, payable on November 21, 2025, to shareholders whose names appear in the Register of Members as at the close of business on Friday, November 7, 2025.
Commenting on the results, Reji George, Managing Director of Presco Plc, stated:
“Presco’s nine-month performance reflects not just strong numbers, but the strength of our model in an evolving Nigeria. As the country navigates new economic realities, our consistency and focus continue to stand out. We have stayed disciplined in execution, translating efficiency and innovation into real, measurable growth.”
Also, according to the company, the performance reflects strong operational efficiency, improved agricultural yields, and resilient market demand across its product portfolio, reinforcing its leadership in Nigeria’s edible oil market.
Cost pressures mount despite strong growth
Despite the impressive top-line and bottom-line figures, a closer look at the financials reveals rising cost pressures.
- Cost of sales surged by 244% YoY to N46.920 billion in Q3, driving the nine-month cost of sales to N72.41 billion, up 101% YoY.
This sharp increase moderated the quarter’s gross profit growth to 7.23%, at N28.84 billion, contracting the gross margin to 38%.
However, on a nine-month basis, gross profit stood strong at N202 billion, up 118.5% YoY, with a healthy 74% margin.
Operating profit for the quarter came in at N36 billion, a 76% YoY increase, supported by:
- Growth in other operating income
- Growth in foreign exchange gains
On the downside, finance costs rose sharply, up 161% YoY to N10.479 billion in Q3 2025, bringing the nine-month finance cost to N29.98 billion, representing a 255% increase YoY.
Overall, Presco Plc reported a post-tax profit of N21.94 billion for the quarter, compared to N12.89 billion in Q3 2024.
Balance sheet
Presco’s total assets rose by 29% YoY to N612.82 billion, driven by growth in property, plant, and equipment, which stood at N290.37 billion.
Meanwhile, total equity declined slightly by 4.24% to N202.23 billion, although retained earnings increased by 54% to N195.52 billion.
Key Highlights (Q3 2025 vs Q3 2024)
- Revenue: N75.764 billion, +86.85% YoY
- Cost of sales: N46.920 billion, +243.79% YoY
- Gross profit: N28.844 billion, +7.23% YoY
- Selling and distribution expenses N1.195 billion, +74.20% YoY
- Operating profit: N36.036 billion, +76.14% YoY
- Post-tax profit: N21.936 billion, +70.20% YoY
- Total assets: N612.819 billion, +28.99% YoY
As of October 22, 2025, Presco’s shares traded at N1,479.90, reflecting a year-to-date gain of 212%.
