Presco Plc has secured shareholder approval to boost as much as N250 billion in recent capital by way of a Rights Situation, marking a big step within the firm’s development and growth plans.
The decision was certainly one of a number of handed at its Annual Common Assembly (AGM) held on 19 August 2025, particulars of which had been disclosed in a submitting on the Nigerian Trade (NGX).
Presco defined that the Rights Situation might be executed by way of the issuance of extraordinary shares, on phrases and situations to be set by the Board.
Any shares not taken up by qualifying shareholders could also be supplied to different traders, guaranteeing full subscription.
Shareholders additionally gave the Board flexibility to strengthen the corporate’s capital construction by way of a mixture of debt and fairness financing, to be undertaken in tranches and on phrases the Administrators take into account applicable.
As well as, the AGM authorized a revised remuneration package deal for non-executive administrators, elevating their charges to N349 million for 2025 from N152.7 million in 2024, together with a sitting allowance of N56.3 million.
Shareholders additionally authorized the dividends of 2023 and 2024 monetary years, noting that they continue to be topic to withholding tax on the relevant fee.
Dividends:
In accordance with the disclosure on NGX, shareholders ratified the dividend of N26.30 per 50 kobo share, amounting to N26.3 billion, paid from the revenue of the 2023 monetary yr.
For 2024, the Board declared a better dividend of N42 per 50 kobo share, translating to a complete payout of N42 billion.
In worth, the 2024 dividend represents a yield of two.8%, a year-on-year improve of 59.7%, and a payout ratio of 53.99%.
The announcement follows Presco’s half-year 2025 outcomes, wherein the corporate reported a pre-tax revenue of N111.8 billion, highlighting its capacity to maintain shareholder returns.
Efficiency:
From Presco’s newest monetary assertion, the corporate reported a pre-tax revenue of N53.2 billion for the quarter ended June 30, 2025, up 156% from N20.7 billion.
This sturdy efficiency lifted half-year pre-tax revenue to N111.8 billion, marking a 121.8% improve in contrast with H1 2024.
The expansion was pushed by a pointy rise in income, which surged 130.8% year-on-year in Q2 to N104.9 billion, bringing complete half-year gross sales to N198.7 billion, practically double the N88 billion recorded in H1 2024.
- All of this income got here from the sale of crude and refined palm oil merchandise, with Nigeria contributing N146.4 billion and Ghana N52.2 billion.
Whereas the price of gross sales elevated 30.4% to N17.8 billion, sturdy top-line development pushed gross revenue to N87.1 billion, up from N31.7 billion a yr earlier.
Presco’s stability sheet additionally confirmed continued power, with complete belongings rising 29% to N612.9 billion and retained earnings climbing sharply to N220.6 billion from N126.7 billion on the finish of 2024.
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