The management of Presco Plc ,today released its unaudited first quarter(3 months ended March 31,2018) financials to the Nigeria Stock Exchange.

Performance Highlights:


-Revenue relatively declined by 8% ,from N7.17 billion in Q1,2017, to N6.59 billion in Q1,2018.

-Cost of Sales remained quite stable, despite decline in revenue, at N1.46 billion in Q1, 2018,comapred to N1.45 billion in 2017.Cost of Sales figure represents 22% of Revenue.

-Thus the company recorded Gross Profit of N5.13 billion (N5.72 billion, in Q1,2017) and an impressive gross profit margin of 78%.
Profit before Tax stood at N3.43 billion (N5.03 billion in Q1, 2017).

-The Total Asset of the company was N106.11 billion, as at Q1, 2018.

Presco is a fully-integrated agro-industrial establishment with oil palm plantations, palm oil mill, palm kernel crushing plant and vegetable oil refining and fractionation plant. It also has an olein and stearin packaging plant and a biogas plant to treat its palm oil mill effluent. It is the first of its kind in West Africa

The company specialises in the cultivation of oil palm and in the extraction, refining and fractionation of crude palm oil into finished products. It also supplies specialty fats and oils of outstanding quality to customer specifications and assures a reliability of supply of its products year round. This is made possible by the integrated nature of the company’s production process.

https://www.financialdigest.com.ng/blog/2018/05/04/presco-plc-records-n6-59b-revenue-in-q1-2018/