Presco Plc

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Presco Plc (2022-04)
  • Presco Plc
  • Year : Apr 2022
3 Tokens
USD 300.00
Summary

Presco’s strong competitive position reflects its status as a leader in the Nigerian palm oil production market, underpinned by its long operational track record and its integration across the palm oil value chain, with four palm oil plantation estates (combined 40,000 hectares, of which c.60% is planted), as well as crushing and processing facilities across the value chain. Its position is being enhanced by the recent expansion of the Company’s processing and refinery capacities and the ongoing acquisition of Siat Nigeria Limited ("SNL").

Additional Information

Presco is acclaimed pioneer of olein and stearin packing plant and a biogas plant used in treating its palm oil mill effluent and is the second largest listed agricultural company on Nigerian Exchange Limited (“the Exchange”) per market capitalisation. The Company’s shares are 60% owned by Siat NV, 7.25% by SIPML RSA Fund and 32.75% by the Nigerian public through the Exchange. The Stable Outlook reflects GCR’s view that Siat NV will sustain the recent return to profitability and stable cash flows and meaningfully reduce debt. GCR also expects that Presco will continue to demonstrate strong revenue growth and robust margins, which should cushion the spike in debt.

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