Oil palm producer Presco Plc logged its peak turnover since 2011 as Russia-Ukraine war disrupted the global supply chain of sunflower oil, details of the firm’s 2022 financials have shown.
According to the company’s financials for the 2022 fiscal year, revenue took a leap to N83.1 billion from N47.4 billion the previous year.
The increase is backed by expanded production from the 39,500 hectares providing raw materials for its core product palm oil, an ingredient for nearly half of products found on supermarket shelves and derivatives like palm kernel oil and palm stearin.
