Presco interim dividend highlights the company’s resilient financial performance after it reported stronger profits despite a challenging operating environment.
Presco Plc, Nigeria’s leading fully integrated agro-industrial company, has proposed an interim dividend of N10 per ordinary share following the release of its unaudited financial results for the half-year ended June 30, 2026. The company reported that profit before tax increased by 9.3 per cent to N122.2 billion, up from N111.9 billion in the corresponding period of 2025. The improvement was supported by a 31.9 per cent reduction in finance costs and disciplined cost management.
Revenue remained broadly stable at N198.8 billion, compared with N198.7 billion a year earlier. Earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at N123.1 billion, representing a strong 61.9 per cent margin. The company 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 also grew by 34.0 per cent to N258.4 billion.
Despite softer crude palm oil prices and a high-cost operating environment, Presco said its profit before tax of N122.2 billion already represents 69 per cent of its full-year 2025 profit before tax, demonstrating the business’s resilience.
Commenting on the results, Managing Director and Chief Executive Officer, 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.”
The company also announced the postponement of its 2025 Annual General Meeting because of pending appeals arising from court rulings related to the 2024 and 2025 AGMs. It said it is awaiting the Court of Appeal’s decision and reaffirmed its commitment to corporate governance, regulatory compliance and transparency. The Presco interim dividend reflects confidence in the company’s future while maintaining a strong financial position.
Do you think Presco’s cost management strategy will help sustain its strong financial performance in the coming months?
