Presco’s Profit Triples as Palm Oil Sales Soar

Presco Plc reported a three-fold increase in its profit before tax for the third quarter of this year as sales of palm oil jumped.

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

Its pretax profit surged to N10.85 billion in Q3 2023 from N3.49 billion in the same period of last year as revenue rose to N28.79 billion from N17.49 billion.