Presco Plc in its half year 2017 financials had revenue grow by 71% to N13bn, cost of sales was up 14% to N3bn resulting in a 104% rise in gross profit to N10bn. Operating expense spiked 185%,while operating income was up by 62% to N8bn. Pre & after-tax profit grew by 84% to N7.6bn and N5.6bn respectively.
Balance sheet numbers showed biological assets inched up 1%. while total assets was up 11% to N92bn. Financial liabilities rose by 31% to N7.8bn while total liabilities grew by 11% to N34bn. Net assets increased by 11% while working capital improved by 51%. See details below.
| Income Statement | H1 2017 | H1 2016 | % Change |
| Revenue (mn) | 12,826 | 7,518 | 71% |
| Cost of Sales (mn) | 3,139 | 2,758 | 14% |
| Gross Profit (mn) | 9,687 | 4,760 | 104% |
| Operating expense (mn) | 2,510 | 881 | 185% |
| Operating Income (mn) | 7,246 | 4,505 | 61% |
| Operating Income Including Biological Assets (mn) | 8,348 | 5,164 | 62% |
| Finance Cost (mn) | 316 | 303 | 4% |
| PBT (mn) | 7,598 | 4,127 | 84% |
| Income Tax/Credit (mn) | 2,043 | 1,114 | 83% |
| PAT (mn) | 5,555 | 3,013 | 84% |
| Balance Sheet | H1 2017 | FY 2016 | % Change |
| Fixed Assets (mn) | 24,931 | 22,445 | 11% |
| Biological Assets (mn) | 45,546 | 44,920 | 1% |
| Total Assets (mn) | 92,151 | 83,162 | 11% |
| Financial Liabilities (mn) | 7,815 | 5,961 | 31% |
| Total Liabilities (mn) | 34,476 | 31,043 | 11% |
| Net Assets (mn) | 57,675 | 52,119 | 11% |
| Working Capital (mn) | 15,077 | 9,998 | 51% |
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