Presco Plc has announced its unaudited financial results for the first quarter ended March 31, 2025, achieving record breaking profitability and continued operational momentum.

The company’s strong performance was driven by exceptional topline growth of 120.4% year on year.

Highlights of the result shows that  Presco’s revenue rose by 120.4% year on year to N93.8 billion, supported by higher production volumes and elevated global crude palm oil prices.

Gross margin expanded to 91.8%, up 12.40 percentage points year on year, due to a decline in cost of sales amid substantial revenue growth.

Profit before tax grew by 97.6% year on year to N58.61 billion, while profit after tax settled at N47.58 billion, up from N24.06 billion in 2024.

The company’s operational discipline and focus on efficiency and value creation contributed to its strong performance.

With this performance, market watchers, anticipate Presco Plc to sustain its current performance, driven by robust topline growth and operational efficiency limiting cost pressures.

The company’s strong production output and favourable pricing dynamics are expected to continue, positioning it for sustained success.