A Glance: Presco Plc Q3 ended Sept 2017
- Presco Plc recently release her unaudited Q3 results for period ended Sept. 30th, 2017. Revenue went up by 41.8% while net income dipped by 12.2% compared to Q3 ’16 figures.
- Cost of sales as a proportion of revenue went up by 29.2% against 24.7% recorded in Q3 ’16 and was impacted by pressured agribusiness space.
- A major drag to net income here was loss recorded on fair value of biological assets which depressed operating profit compared to N4.41 billion gain posted in comparable period of 2016.
- Debt-ratio-to-equity dropped marginal to 59.0% from 60.0% in the comparable period and impacted on fringe growth seen on shareholders’ fund.
- Presco currently trade at a book value per share higher than its peers and industry.
- Our full valuation of the company will be undertaken and communicated soon.
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