Presco berths with pre-tax profit decline of 12.7% in FY’19

The recently released full year (FY) 2019 scorecard of Presco Plc revealed declines across its key top-to-bottom line figures. The unaudited result released to investors on the trading floor of the Nigerian Stock Exchange (NSE) show Presco revenue declined by 6.9percent to N19.88billion as against N21.34billion in 2018.

Presco Plc is a key player in the agricultural sector. At N52.25kobo its shares traded on the Nigerian Bourse on Thursday January 30, it represents 10percent increase year-to-date (Ytd).

Investors may have started pricing in the negatives in its scorecards as its shares later closed this trading week ended January 31 at N49.85, after losing N2.4 or 4.59percent.

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By Iheanyi Nwachukwu • January 31, 2020

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.