Presco Plc released its 2020 unaudited FY results
- Revenue of N23.91 billion vs N19.72 billion +21.22% YoY
- Operating Profits N10.48 billion vs N8.1 billion, 28.4% YoY.
- Profit after tax of N7.03 billion vs N3.83 billion a year earlier. +83.25% cut YoY.
- Earnings per share of 703 kobo vs 374 kobo earnings per share reported in 2019. +87.97% YoY.
- No dividend announcement was made in their press release.
- The company share price of N74.50, up 5% YTD.
Bottom Line: This was a decent result, however, Presco’s price-earnings ratio of 14x is a tad expensive. Agric stocks tend to be expensive as Okomu oil is also priced at 13x earnings.
See link to results.