Presco Plc posts 9.3% profit rise to N122.2bn in H1 2026, proposes N10 dividend

Presco Plc reported unaudited results for the first half of 2026, posting a profit before tax of N122.2 billion, up 9.3% from N111.9 billion in H1 2025. Revenue was essentially flat at N198.75 billion, while finance costs fell sharply to N13.27 billion from N19.50 billion a year earlier and finance income rose to N9.02 billion from N1.55 billion, driving the profit gain despite flat sales. The company also announced an interim dividend of N10 per share, payable to shareholders on the register as of 14 August 2026. Share price has risen about 19% year‑to‑date, closing at N2,039.44 on 28 July 2026. Balance sheet strength improved, with total borrowings down 62% to N119.52 billion and total equity up 13.8% to N503.62 billion, although cash balances fell as the company used cash to repay debt. Operating profit slipped 2.6% to N126.48 billion due to higher administrative and selling expenses, but the lower financing costs more than offset the drag. The result shows Presco’s ability to boost profitability through cost discipline and balance‑sheet strengthening even when revenue growth stalls.

SOURCE: https://nairametrics.com/2026/07/29/prescos-pre-tax-profit-hits-n122-2-billion-in-h1-2026/