Nigeria’s leading fully integrated agro-industrial company, Presco Plc, has proposed an interim dividend of N10 per ordinary share after releasing its unaudited financial results for the half-year ended June 30, 2026.
The results showed that profit before tax rose 9.3 per cent to N122.2 billion from N111.9 billion in the corresponding period of 2025, supported by a 31.9 per cent reduction in finance costs and disciplined cost management.
Revenue stood at N198.8 billion, broadly unchanged from N198.7 billion recorded a year earlier, while earnings before interest, taxes, depreciation and amortisation (EBITDA) was N123.1 billion, representing a margin of 61.9 per cent.
The company’s total equity increased by 13.8 per cent to N503.6 billion, while total liabilities declined by 42.5 per cent to N277.8 billion. Retained earnings also grew by 34.0 per cent to N258.4 billion.
Despite a high-cost operating environment and softer crude palm oil prices, Presco delivered a resilient first-half performance. The company said its profit before tax of N122.2 billion represents 69 per cent of its full-year 2025 profit before tax, underscoring its financial resilience.
Commenting on the results, the Managing Director and Chief Executive Officer of Presco Plc, Mr Reji George, said: “Our H1 2026 performance underscores the strength of our operational model in a challenging environment. The 9.3 per cent growth in profit before tax, driven largely by a 31.9 per cent reduction in financing costs, reflects our deliberate focus on cost optimisation and balance sheet discipline.
“With equity up 13.8 per cent and liabilities down 42.5 per cent, we have further fortified our financial foundation. The proposed interim dividend of N10 per share signals our confidence in the business’s trajectory and our commitment to rewarding shareholders.”
Meanwhile, the company announced the postponement of its 2025 Annual General Meeting due to pending appeals arising from court rulings relating to the 2024 and 2025 AGMs.
According to the company, it is awaiting the judgment of the Court of Appeal and reaffirmed its commitment to corporate governance, regulatory compliance and transparency, assuring shareholders that updates would be provided as appropriate.
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