Presco Plc 2016 Financial Summary
Presco shareholding structure is such that 9 investors holds 81.69% of the total shares outstanding and SIAT SA holds 60% of it all. This holding structure ensures that it is not subjected to unnecessary market volatility.
| 12 Months PRESCO PLC | ||||
| 2016 N'000 |
2015 N'000 |
change | Year End | |
| Revenue | 15,716,198 | 10,448,353 | 50% | December |
| Profit/Loss before taxation | 31,226,452 | 4,214,741 | 641% | |
| Profit/Loss for the period | 21,735,465 | 2,493,595 | 772% | |
| Issued Shares (Units) | 1,000,000,000 | 1,000,000,000 | ||
| Basic Earnings Per Shares (Kobo) | 2200.00 | 200.00 | -1000% | |
| Last total dividend paid (Kobo) | 150.00 | 100.00 | 50% |
Quarter on Quarter performance
Revenue PAT
N'000 N'000
Q1: #3,181,430 Q1: #1,399,114
Q2: #4,336,891 Q2: #1,613,305
Q3: #4,419,192 Q3: #3,787,851
Q4: #3,778,685 Q4: #14,935,195
The revenue of Presco was relatively stable through 2016. on the order hand the PAT was spurred by the gains on biological asset revaluation in the Q4. This resulted in a profit of #14.9billion almost equivalent to the total revenue generated for 2016. The fair value of the produce is measured with reference to the price in an active market at the point of harvest adjusted for its present location and condition.
A closer look at the result shows that even as revenue grew by 50% year on year, the company kept cost of sales lower than that, with a growth of 15.79%. Finance cost remains stable within the period and the company retained earnings increased by 72.41% from #29.6billion in 2015 to #50.3Billion in 2016.
It is worthy to note that the whole #15.7billion revenue was earned locally without a single export. The implication of which is that their is huge potential for the major players in the sector. With major customers cut across industry. Notable among these customers are: Nestle Nigeria, Chikki Foods Industries, WAMCO maker of peak milk, Cadbury, KFC, Fan Milk, Belloxi Industries Limited , Dangote Groups, Golden Pasta Company Limited.
Presco declared a dividend of #1.50k against #1.00k declared the same period last year. This comes with a dividend yield of 3.19% at a price of #47.00k.
The Dividend yield is lower than the Market average but the prospect of another thrilling year of Agro Companies and the compelling argument of its shareholding pattern may sustained the price.
The Market would decide from its next session.
The revenue of Presco was relatively stable through 2016. on the order hand the PAT was spurred by the gains on biological asset revaluation in the Q4. This resulted in a profit of #14.9billion almost equivalent to the total revenue generated for 2016. The fair value of the produce is measured with reference to the price in an active market at the point of harvest adjusted for its present location and condition.
A closer look at the result shows that even as revenue grew by 50% year on year, the company kept cost of sales lower than that, with a growth of 15.79%. Finance cost remains stable within the period and the company retained earnings increased by 72.41% from #29.6billion in 2015 to #50.3Billion in 2016.
It is worthy to note that the whole #15.7billion revenue was earned locally without a single export. The implication of which is that their is huge potential for the major players in the sector. With major customers cut across industry. Notable among these customers are: Nestle Nigeria, Chikki Foods Industries, WAMCO maker of peak milk, Cadbury, KFC, Fan Milk, Belloxi Industries Limited , Dangote Groups, Golden Pasta Company Limited.
Presco declared a dividend of #1.50k against #1.00k declared the same period last year. This comes with a dividend yield of 3.19% at a price of #47.00k.
The Dividend yield is lower than the Market average but the prospect of another thrilling year of Agro Companies and the compelling argument of its shareholding pattern may sustained the price.
The Market would decide from its next session.
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