Presco plc post 22% fall in profit for nine months

Noble Group

Presco plc is reporting 22% decline in profit to NGN5.3 billion for the nine months ended in 2017 compared to NGN6.8 billion reported same period in the financial year 2016.

The company ended the period with NGN16.9 billion revenue in contrast to NGN11.9 billion recorded same period in the previous year while gross profit was NGN11.9 billion against NGN8.9 billion in the year before.

Operating profit for the period was NGN9.0 billion compared to NGN11.0 billion recorded in the fiscal year 2016.

Presco plc said the company’s total assets for the nine months was NGN91.2 billion compared to NGN83.1 billion recorded same period in 2016 while total liabilities was NGN7.6 billion against NGN5.6 billion in the year before.

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