Presco reports 83% rise in profit, revenue hits N23.90bn

Presco Plc saw its profit after tax rise by 83.25 percent in 2020 to N7.03 billion from N3.84 billion a year ago.

The company’s interim financial statements showed that its profit before tax increased to N8.95 billion last year from N6.06 billion in 2019.

Its revenue was up 21.21 percent year-on-year to N23.90 billion from N19.72 billion.

Presco specialises in the cultivation of oil palm and in the extraction, refining and fractionation of crude palm oil into finished products.