BRIEF: Presco PLC’s pretax profit fell by 64% in 2017

Okomu Oil

Presco PLC, one of the two largest palm oil producers in Nigeria said its pretax profit for the full year 2017 fell by 64%.

The crash in its profitability becomes very glaring on a year on year basis. For the full year 2017, pretax fell to N10.95 billion compared to N31.23 billion reported in 2016.

Full-year profit came higher at N22.37 billion compared to N15 billion in the previous year.