Presco Plc posts 174% growth in PAT for Q3 period ended 30th September, 2021

Presco Plc released its unaudited financial results for the nine months period ended 30th of September 2021.

  • Revenue during the period was N34.24 billion. (+80.94% YoY)
  • Cost of sales for the period was N10.71billion (+53.03%)
  • Gross profit stood at N23.52 billion. (+97.32% YoY)
  • Operating profit for the period was N18.13 billion. (+132.47% YoY)
  • Profit before tax of N17.58 billion was recorded during the period.
  • Profit for the period stood at N13.78 billion (+173.84%).
  • Total assets during the period stood at N87.39 billion. (+13.62bn YtD)
  • Earnings per share of N13.78 Vs N5.03 YoY.

See full result here

Presco Plc announces board meeting, closed period ahead of Q3 2021 results.

Presco Plc has announced that it will be hosting a Board of Directors meeting on Wednesday, 27th of October, 2021.

This is according to a notice signed by the company’s secretary, Patrick Uwadia, and sent to the Nigerian Exchange Limited (NGX).

According to the disclosure, the meeting will avail the board members the opportunity to effect board changes and approve the draft unaudited financial statements of the company for the period ended Thursday, 30th of September, 2021. In addition, the Board will also consider and decide on the proposed payment of interim dividends for the aforementioned period.

Consequently, the company declared that it has commenced a closed period from 1st of October, 2021, in line with the statutory provisions for listed companies on the NGX platform. The closed period will last until 24 hours after the release of the unaudited financial results to the public.

The company also disclosed that its unaudited financial results for the aforementioned period will be uploaded on the website of the NGX on or before Saturday, 30th of October, 2021.

Note that during the closed period, insiders of the company comprising of directors, managers, employees and all their connected persons, are strictly prohibited from transacting in the shares of the company.

To access the notice, click HERE.

Presco Plc announces emergency meeting, set to consider the acquisition of a private company.

 

Preso Plc, a public limited liability company based in Nigeria with a special focus on industrial as well as smallholder plantations of tree crops, has announced that it will be holding an emergency meeting on the 24th of June, 2021.

This is according to a notification signed by the company’s secretary, Patrick Uwadia and sent to the Nigerian Exchange Group Limited.

According to the notice, the emergency meeting was scheduled to enable shareholders consider the company’s move to acquire all the shares of an existing private company limited by shares and in the same line of business with the company. The meeting will help determine subsequent decisions or actions that will be taken as regards the deal, especially at the company’s next General Meeting.

As at the period of reporting, the name of the company remains unknown. However, it is generally expected that after the emergency meeting, details concerning the deal, such as the name of the proposed company, will be further communicated to relevant stakeholders.

In line with statutory provisions, the company has consequently announced the commencement of a Closed Period from Wednesday, 16 June 2021 until 24 hours after the decisions taken at the Board Meeting are released to the public. During the close period, all insiders are generally prohibited from buying or selling shares of the company.

For more information about the recent disclosure, click HERE.

Presco Plc proposes dividend worth N2 billion for shareholders.

The Board of Directors of Presco Plc has proposed a dividend of N2 for every share of 50 kobo held by shareholders, amounting to a total of N2 billion for the year ended 2020.

This is according to a disclosure signed by the company’s secretary, Patrick Uwaida, and sent to the Nigerian Stock Exchange.

According to the notice, dividends will be paid electronically to qualified shareholders’ on the 26th of July, 2021. The qualified shareholders are those, whose names appear in the Register of Members as at close of trading on 6th of July, 2021.  Other qualifying conditions are;

  • Shareholders must have completed the e-dividend registration.
  • In addition, shareholders must have mandated the Registrar (First Registrars and Investor Services Limited) to pay their dividend directly into their bank accounts.

What you should know:

  • The company is expected to discuss this proposed dividend in its imminent Annual General Meeting scheduled to hold on 21st of July, 2021 at the Dura Club, Obarentin Estate, Benin Sapele Road, Edo State.
  • The Company had earlier recorded a 37.1% surge in profit after tax, after it posted the sum of N5.26 billion as PAT for FY 2020.
  • The Company’s share price currently trades at N72, while its outstanding shares as at the period of reporting this stands at 1 billion units.

For more information about the proposed dividend, click HERE.

2020 FY Results: Presco Plc records 37.1% increase in profit after tax.

Presco Plc released its full-year audited results for the year ended 31st December 2020.

  • Revenue for the year was N23.89 billion. (+21.1% YoY)
  • Cost of sales was N7.8 billion. (+11.45% YoY)
  • Administrative expenses totaled N6.82 billion. (+6% YoY)
  • Profit for the year was N5.26 billion.(+37.1% YoY)
  • Earnings per share of N5.26 Vs N3.84 YoY.
  • Return on equity was 17%
  • A dividend of N2 was proposed.

See link to results.