Presco Plc granted extension to file 2025 audited financials over growth integration

Presco Plc, a leading West African edible oils producer, has secured approval from the Nigerian Exchange Limited (NGX) to extend the deadline for filing its audited financial statements for the year ended December 31, 2025. The filing date, originally scheduled for March 31, 2026, has now been moved to April 30, 2026.

The company attributed the extension to two key factors: the recent appointment of new external auditors undertaking their first full-year audit of the company, and the integration and consolidation of recently completed acquisitions into Presco’s financial records. According to the company, these processes require additional time to ensure the audited statements fully reflect its financial position and comply with all regulatory and accounting standards.

“It is imperative that our audited financial statements provide a true and fair view of the Company’s financial position,” the company said in a statement on the Nigerian Exchange (NGX) on Wednesday. “We are committed to maintaining transparency and the highest standards of corporate governance, and the results will be published immediately upon completion.”

Presco Plc operates as a fully integrated edible oils company, engaging in the cultivation of oil palm, as well as the production, refining, and marketing of specialty fats and oils. Its operations are strengthened by key subsidiaries, including Ghana Oil Palm Development Company Limited (GOPDC) and Siat Nigeria Limited, which extend its footprint and enhance market leadership across West Africa.

Edible oils market in Nigeria

Nigeria’s edible oils sector has been under significant pressure in recent years due to rising raw material costs, fluctuating exchange rates, and the ongoing challenge of balancing domestic production with import demands. Local producers like Presco have sought to expand through acquisitions and backward integration – buying or developing oil palm plantations – to secure feedstock supply and reduce exposure to global price shocks.

READ ALSO: How Presco earned N331.2bn from 4 countries in 2025

The timing of Presco’s acquisitions and subsequent consolidation of these operations into its financial records highlights the company’s growth strategy but also explains the need for additional auditing time. Market analysts note that while extensions in filing audited financials are not unusual, they are often closely watched by investors for implications on governance, financial accuracy, and operational integration.

Presco’s financials

Presco Plc raked in a total of revenue of N331.2 billion in full-year 2025, up 60 percent from N207.504 billion earned in 2024. Incidentally, the huge revenue was earned from 4 different markets in the world, namely Nigeria, Ghana, Germany and Austria.

The group’s profit jumped by 77 percent to N138.116 billion in 2025, from N78.102 billion reported in 2024. The big news, however, is that these 4 markets brought in the total revenue of the palm oil maker, Presco’s 2025 financial statement shows.

Nigeria, the group’s headquarters, is the biggest market, contributing 74 percent of the revenue. The nation produced a revenue of N245.331 billion from Presco’s palm oil sales. Following Nigeria is Ghana, which contributed N80.007 billion, representing 24 percent of the revenue. This, therefore, puts the West African nation as Presco’s biggest export market.

Next is Germany, which contributed N5.314 billion to the revenue pool, representing a 1.6 percent of the total sales. Austria is the least, contributing 0.6 percent.

Nigeria’s palm oil is in high demand locally and globally. The nation’s palm oil consumption is expected to reach 1.44 million metric tons (MMT) by 2026, up from 1.38 MMT in 2021. This represents an average yearly growth rate of 0.7 percent, according to ReportLinker.

Presco Plc was incorporated in Nigeria on September 24, 1991 as Presco Industries Limited, a private limited liability company under the Companies and Allied Matters Act, and became a public limited liability company in February, 2002.

Presco Plc’s shares are actively traded on the Nigerian Exchange (NGX) with the Siat Group holding 61.2 percent while the Nigeria Public holds 38 percent. The price stood at N1,635 per share as at the end of February 2, 2026 market day.

Presco specialises in the cultivation of oil palm and in the extraction, refining and fractionation of crude palm oil into finished products.
Presco supplies specialty supplies fats and oils to customers.