Leading agro-industrial company, Presco Plc. (Bloomberg: PRESCO:NL | Reuters: PRESCO.LG | NGX: PRESCO) today announced its Audited Financial Statements for the 12 months ended 31 December 2024.
Key Highlights
- 125.2% Year-on-Year growth in EBITDA; increased from N52.9bn in 2023 to N119.1bn in 2024.
- 128.7% growth in Profit Before Taxes (PBT); rising from N49.5bn in 2023 to N113.2bn in 2024.
- 102.6% Revenue Growth at N207.5bn.
- 146% increase in share price over the financial year
- N42 per share declared as final dividend for the 2024 financial year.
- Market expansion through acquisition of 52% equity stake in Ghana Oil Palm Development Company Limited (GODPC).
Commenting on the results, Mr. Reji George, Managing Director and CEO of Presco Plc, stated, “We are deeply grateful for the continued trust of our investors, business community and dedicated workforce, who have been instrumental in achieving these exceptional results. Against macroeconomic factors faced during the financial year under review, we remained undeterred in our strategic focus, resilience, and organizational efforts. This approach has led to remarkable growth across our operations.
We acquired 52% of Ghana Oil Palm Development Company Limited in August 2024 pursuant to our strategic growth objectives with further consolidation of our control of that entity in 2025’’
This sterling performance reflects Presco’s capacity to continually deliver exceptional returns to its shareholders through a combination of operational efficiency drive and agricultural excellence. Presco’s revenue increased by 102.6% to N207.5bn to cement its position as the leading edible oil business in West Africa.
In line with its growth strategy, Presco is committed to enacting shared prosperity for its employees, communities and stakeholders to enable it emerge as Africa’s largest, most profitable and sustainable edible oil business
Financial Highlights
Ghana Oil Palm Development Company Ltd was acquired in August 2024 and 4 months results of that entity was consolidated.
For further information, please contact:
Kenneth Ugo
Investor Relations Manager
Mobile : +234 (0) 708 488 1691
E-mail : kenneth.ugo@siat-group.com
presco.investors@siat-group.com
About Presco Plc
Presco Plc, together with its subsidiaries, Siat Nigeria Limited and Ghana Oil Palm Development Company Limited, is a fully integrated agro-industrial establishment with oil palm plantations, palm oil mill, palm kernel crushing plant, and vegetable oil refining and fractionation plant. Presco is the market leader for specialty fats and oils in West Africa.