Presco Holds AGM, Reports Strong 2025 Results with ₦14.66 Dividend

Nigeria’s top agro-industrial company held its 33rd Annual General Meeting (AGM) today. Shareholders approved the Company’s financial statements for the year ending 31 December 2025. They also agreed on important business and governance decisions. The AGM showcased Presco’s impressive performance in 2025, its growth in the region, and its plans for 2026.

In 2025, Presco achieved record financial results. Revenue jumped by 59.3% to ₦330.6 billion. Profit Before Tax (PBT) rose 57.1% to ₦177.9 billion. Profit After Tax (PAT) increased by 56.1% to ₦121.4 billion. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 43.7% to ₦211.8 billion. Total assets also went up by 94.9% to ₦926.0 billion. A successful ₦236.7 billion rights issue more than doubled total equity to ₦442.7 billion, which greatly improved the balance sheet and supported the Company’s growth strategies.

Shareholders approved a final dividend of ₦14.66 per 50 kobo ordinary share. This brings the total dividend for the fiscal year 2025 to ₦44.66 per share. The payout shows Presco’s careful approach in balancing growth reinvestment with steady cash returns to shareholders.

Mr Rasheed Olakanmi Sarumi, Chairman of Presco Plc, commented on the Company’s performance. He said, "I commend our management teams across the region for their exceptional execution during a transformational year, and I thank my colleagues on the Board for their diligent oversight. The record performance delivered in 2025 reflects the strategic choices we have made and the stronger regional platform we are building. As we integrate our operations across Nigeria and Ghana, our focus remains clear: build scale, improve efficiency and create sustainable long-term value for our shareholders and stakeholders."

Presco’s record performance also came with significant strategic achievements. The company bought the remaining 48% shareholding in Ghana Oil Palm Development Company Limited (GOPDC), increasing its ownership to 100%. Presco also acquired Saro Oil Palm Limited (SOP), including the Nsadop and Boki estates in Cross River State. These moves expanded the Company’s plantation base and production capacity. They also strengthened Presco’s regional presence and set it up for long-term growth. The successful rights issue boosted funding for integration and expansion.

Mr Reji George, Managing Director and Chief Executive Officer of Presco Plc, shared the Company’s outlook. He said, "We enter Presco’s next phase of growth with greater scale, stronger operating capabilities and a more integrated regional platform. Our priority is to convert that scale into measurable efficiencies and stronger performance, while building the people, systems and capabilities required to sustain growth across West Africa."

The AGM also addressed important governance matters. Shareholders approved the appointments of Mr Ademola Adebise, Mr Adewale Arikawe, and Mr Francois VanHoydonck as Directors. Mr Rasheed Olakanmi Sarumi, Mr Abdul Akhor Bello, Mrs Iquo Ukoh, and Ms Osayi Alile were re-elected as Directors who retired by rotation.

The Chairman paid tribute to Mr Felix Nwabuko FCA, a former Managing Director and Chief Executive Officer of Presco. He retired from the Board on 2 January 2026. The Board expressed gratitude for his valuable service and lasting impact on the Company.

Looking ahead, Presco aims to turn its increased scale into better operational performance and lasting value. Immediate goals include completing operational integration across its businesses, finding synergies in procurement, production, and logistics, optimizing costs, and pursuing careful growth opportunities that fit with the Company’s long-term plan.

With a stronger balance sheet, a more integrated operating model, and a growing regional presence, Presco is set to enhance its competitive edge in the West African edible oils market and deliver lasting value for shareholders and other stakeholders.