Okomu Oil Palm Plc, Presco Plc lead three other listed agriculture companies on the Nigerian Exchange Limited (NGX) to declare a sum of N35.4billion profit in 2022 financial, representing an increase of 19 per cent from N29.81billion profit reported in 2021 financial year.
However, apart from Okomu Oil Palm and Presco, three other companies listed in the agriculture sector on the bourse announced losses, attributable to weak revenue, hike in cost of sales and poor corporate governance.
The combination of Ellah Lakes Plc, FTN Cocoa Processors Plc and Livestock Feeds Plc announced N2.27billion loss after tax in 2022 as against N1.61billion loss after tax reported in 2021.
The agriculture sector that comprises of four sub-activities Crop Production, Livestock, Forestry and Fishing contributed 26.46per cent to overall
