PRESCO | Presco Plc Company Update : Naira weakness may support CPO prices

    We revise our CPO and RBDO production forecasts for FY'23 to 62,500 tons and 65,000 tons, respectively (vs 52,813 tons and 55,943 in 2022 and 66,211 tons and 61,228 tons in previous projections). The company's output will likely be supported by the continued ramp-up in production at the acquired SIAT Nigeria Ltd, which increased the oil palm area planted by 15,000 hectares and boosted matured areas by 40.1% late last year. Overall, we forecast revenue 13.4% higher in FY'23 at N92.85 billion, with EPS likely to grow 45.7% YoY to N18.99 per share.


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