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Presco Plc (Bloomberg: PRESCO | Reuters: PRESCO.LG | NGX: PRESCO), Nigeria’s leading fully integrated agro-industrial company, today held its 33rd Annual General Meeting (AGM), where shareholders adopted the Company’s audited financial statements for the year ended 31 December 2025 and approved key business and governance resolutions.
The AGM also highlighted Presco’s record 2025 performance, its expanded regional platform and priorities for 2026.
Presco delivered record financial performance in 2025. Revenue rose 59.3% to ₦330.6 billion, Profit Before Tax (PBT) increased 57.1% to ₦177.9 billion and Profit After Tax (PAT) rose 56.1% to ₦121.4 billion.
EBITDA grew 43.7% to ₦211.8 billion, while total assets increased 94.9% to ₦926.0 billion. A landmark ₦236.7 billion rights issue more than doubled total equity to ₦442.7 billion, materially strengthening the balance sheet and supporting the Company’s growth plans
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Shareholders approved a final dividend of ₦14.66 per 50 kobo ordinary share, taking the total dividend for FY2025 to ₦44.66 per share. The payout reflects Presco’s disciplined approach to balancing reinvestment for growth with consistent cash returns to shareholders.
Commenting on the Company’s performance, Mr. Rasheed Olakanmi Sarumi, Chairman, Presco Plc, said:
“I commend our management teams across the region for their exceptional execution during a transformational year, and I thank my colleagues on the Board for their diligent oversight. The record performance delivered in 2025 reflects the strategic choices we have made and the stronger regional platform we are building. As we integrate our operations across Nigeria and Ghana, our focus remains clear: build scale, improve efficiency and create sustainable long-term value for our shareholders and stakeholders.”
The record performance was matched by significant strategic progress. Presco completed the acquisition of the remaining 48% shareholding in Ghana Oil Palm Development Company Limited (GOPDC), taking its ownership to 100%, and acquired Saro Oil Palm Limited (SOP), including the Nsadop and Boki estates in Cross River State. Together, these transactions expanded the Company’s plantation base and production pipeline, deepened its regional presence and positioned Presco for medium- to long-term volume growth. The successful rights issue further strengthened funding capacity for integration and expansion.
Commenting on the Company’s outlook, Mr. Reji George, Managing Director and Chief Executive Officer, Presco Plc, said:
“We enter Presco’s next phase of growth with greater scale, stronger operating capabilities and a more integrated regional platform. Our priority is to convert that scale into measurable efficiencies and stronger performance, while building the people, systems and capabilities required to sustain growth across West Africa.”
The AGM also recorded key governance outcomes. Shareholders ratified the appointments of Mr. Ademola Adebise, Mr. Adewale Arikawe and Mr. Francois VanHoydonck as Directors of the Company, while Mr. Rasheed Olakanmi Sarumi, Mr. Abdul Akhor Bello, Mrs. Iquo Ukoh and Ms. Osayi Alile were re-elected as Directors retiring by rotation.
The Chairman paid tribute to Mr. Felix Nwabuko FCA, a former Managing Director and Chief Executive Officer of Presco and former Group Chief Executive Officer of SIAT, who retired from the Board with effect from 2 January 2026, and expressed the Board’s appreciation for his distinguished service and enduring contribution to the Company.
Looking ahead, Presco is focused on translating its expanded scale into stronger operational performance and sustainable value creation. Immediate priorities include completing operational harmonisation across its businesses, capturing synergies across procurement, production and logistics, optimising the integrated cost base and pursuing disciplined growth opportunities aligned with the Company’s long-term strategy.
With a stronger balance sheet, an increasingly integrated operating model and a growing regional platform, Presco is well positioned to strengthen its competitive position across the West African edible oils value chain and deliver sustainable long-term value for shareholders and other stakeholders.
Further information on the AGM is available at www.presco-plc.com
