Presco Declares N10 Interim Dividend
Presco reported resilient half-year earnings, proposed a N10 interim dividend and strengthened its balance sheet despite challenging market conditions.
Presco Plc has proposed an interim dividend of N10 per ordinary share after reporting solid financial results for the six months ended 30 June 2026. The agro-industrial company delivered stronger earnings despite a challenging operating environment and weaker crude palm oil prices.
According to its unaudited half-year results, Presco Plc recorded profit before tax of N122.2 billion, representing a 9.3 per cent increase from N111.9 billion in the corresponding period of 2025. The company attributed the improvement to disciplined cost management and a 31.9 per cent reduction in finance costs.
Revenue remained largely stable at N198.8 billion, compared with N198.7 billion a year earlier. EBITDA reached N123.1 billion, giving the company a strong 61.9 per cent margin. Presco Plc also strengthened its financial position, with total equity rising 13.8 per cent to N503.6 billion, while total liabilities fell 42.5 per cent to N277.8 billion. Retained earnings increased 34.0 per cent to N258.4 billion.
Despite higher operating costs and softer crude palm oil prices, the company said its profit before tax for the first half of 2026 already represents 69 per cent of its full-year 2025 pre-tax profit, highlighting its financial resilience.
Managing Director and Chief Executive Officer 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.”
The company also announced the postponement of its 2025 Annual General Meeting because of pending appeals linked to court rulings on the 2024 and 2025 AGMs. Presco Plc said it is awaiting the decision of the Court of Appeal and reaffirmed its commitment to corporate governance, regulatory compliance and transparency. The company added that it will keep shareholders informed as further developments emerge.
Do you think Presco Plc can sustain its strong financial performance despite ongoing market pressures?
