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Presco Plc, Nigeria’s largest fully integrated agro-industrial palm processor, chaired by Rasheed Sarumi, reported a strong nine-month performance for the period ended Sept. 30, 2025, with profit more than doubling on the back of higher prices and strong demand for its products.
The company said profit rose to N110.79 billion ($75.7 million) from N51.76 billion ($35.4 million) a year earlier. Revenue climbed sharply to N274.5 billion ($187.5 million), up from N128.6 billion ($87.9 million), as Presco benefited from both higher palm oil prices and increased output across its operations.
Presco profit jumps, dividend declared
Presco said the performance was driven by better efficiency, improved agricultural yields, and resilient consumer demand despite a tough economic backdrop. The company noted that the results reinforced its position as Nigeria’s leading producer of edible oils and related products.
“The results show more than strong numbers; they reflect the strength of our model in an evolving Nigeria,” Managing Director Reji George said in a statement. “As the country adjusts to new economic realities, our consistency and focus continue to stand out. Presco remains part of Nigeria’s solution — driving value from the soil to industry, strengthening food security, and building resilience for the future.
The company’s earnings per share rose 114 percent year-on-year, prompting its board to declare an additional interim dividend of N10 ($0.0068) per share. Presco said the payout reflects confidence in its fundamentals and a continued commitment to reward shareholders.
Sarumi drives Presco’s growth and sustainability
Operating from Edo State and listed on the NGX, Presco runs extensive plantations, mills, refining units, and packaging plants. It also produces biogas from its operations, supporting cleaner energy use. It remains one of West Africa’s few fully integrated palm oil processors and a key player in Nigeria’s efforts to cut imports and boost local production.
Since Sarumi took over as chairman in May 2024, Presco has strengthened its balance sheet and expanded production. Total assets rose to N612.8 billion ($419.7 million) as of Sept. 30, 2025, from N475.1 billion ($325.2 million) at the end of 2024, while retained earnings climbed to N195.5 billion ($133.9 million) from N126.7 billion ($86.3 million).
