Presco posts ₦19.32 billion profit for 2021

Presco Plc has reported a net profit of ₦19.32 billion for 2021 full-year.

Presco Plc, a Benin-based strong Agro-industrial company, simultaneously released both her 2021 audited financials and 2022 unaudited first-quarter results. Here is a summary of the results.

Net Profit stood at ₦19.32 billion for the full year, an astonishing uptick of 267% from 2021’s figure of ₦5.26 billion.

Operating profit increased by 174.32% to ₦28.94billion in the reported statement from ₦10.55billion in the previous year. Total revenue grew by 98.51% from ₦23.90billion in the previous year to ₦47.43billion in the full year.

For her 2022 unaudited first-quarter results, Presco Plc made ₦19.6 billion in total revenue in the first three months of 2022, profit before tax expense was recorded at ₦8.6 billion, while net profits stood at ₦5.88 billion for the period ending March 31, 2022.

Presco Plc has also declared a dividend per share of ₦6.60k, which will be disbursed electronically to her shareholders who have mandated the Registrar to pay the sum directly into their bank accounts.