Presco Plc, an oil palm producer in Nigeria, has announced plans to complete its new mill at Ato Estate by 2025 as part of its expansion strategy.

Speaking during the company’s end-of-year party held recently in Benin-City, Edo State, the Managing Director/Chief Executive Officer, Reji George, highlighted the record-breaking production levels achieved in 2024, the highest in the company’s history.

George commended staff members for their resilience and professionalism, describing them as invaluable assets that drove the company’s exceptional achievements. He also extended gratitude to shareholders, customers, the Chairman of Presco Plc, Olakanmi Sarumi, Group Chief Executive Officer, Felix Nwabuko, and other stakeholders for their contributions.

The MD praised the production, processing, and sales teams for their roles in achieving the company’s targets and expressed confidence that the new mill would further enhance Presco’s operational efficiency.

George outlined expansion plans for 2025, affirming the company’s focus on sustainable growth and innovation. He emphasised the importance of teamwork and a renewed commitment to excellence in maintaining Presco’s leadership position in the industry.

He expressed gratitude to Presco’s partners and the communities it serves for their continued support and extended his best wishes for a joyous Christmas and a prosperous New Year.

The PUNCH reported that Presco Group Plc announced a profit after tax of N38.8bn for the first half of 2024, a 157 per cent year-on-year growth from N15.1bn recorded in the same period last year.