WATCH THE VIDEO HERE Presco Plc has reported a pre-tax profit of N113.2 billion for the year ended 31 December 2024, as outlined in its recently published audited financial statements on the Nigerian Exchange (NGX). This figure represents a substantial 128.74% increase compared to the N49.4 billion recorded in the previous year, driven by a significant surge in revenue. Full-year revenue more than doubled, reaching N207.5 billion, which is a 102.60% increase from the prior year’s figure of N102.4 billion. At the same time, the cost of sales increased by 72.92%, rising to N65.5 billion compared to N37.8 billion reported the previous year. Furthermore, the group’s gains from biological assets rose to N28.9 billion, marking a year-over-year growth of 136.85%. This contributed to the 114.56% increase in core operations profits, which reached N125.7 billion. The group also revealed its recommendation of a final dividend of N42 per 50 kobo for registered members, pending approval at the Annual General Meeting. As of April 8, 2025, PRESCO is priced at N785, reflecting a year-to-date performance of 65.3% in the Nigerian stock market. In the previous year, 2024, the stock achieved a year-to-date performance of 136.8%.
Presco reports N113.2 billion in full-year profit for 2024 as revenue doubles, recommends final dividend of N42
