Presco Plc, a company quoted in the Agricultural sector of the Nigerian Stock Exchange has said that it is expecting improved performance in its activities in 2013.

This, the company said in a statement on Tuesday, was as a result of various strategic investments undertaken over the past few months.

The company’s Managing Director, Mr. Uday Pilani, who disclosed this during the company’s end of the year party held on Friday, said that with the support of all workers and the dynamic and excellent marketing strategy exhibited by the marketing team, there will be remarkable improvement.

He stated that already, the company had been able to surpass 2011 records both in terms of product volume and turnover, from a turnover of N8.5bn in 2011, adding that it hoped to end this year with a turnover in excess of N11bn.

Pilani said “We have in the course of the year acquired additional 3,200 hectares of land at the Ologbo Estate. Work is currently going on for the demarcation of the boundaries preparatory to 2013 planting season.

“The acquisition of over 14,000 hectares at Orogho/Obagie Nunuamen in Orhiomwon local government area of Edo State will also be ready for occupation next year, also, we are in the process bidding for the takeover of the Edo State Government’s Uronigbe Rubber Estate and this will hopefully materialise early in 2013.”

He said that 2012 had been a very challenging year for the vegetable oil sub-sector of the Nigerian economy, particularly due to what he identified as government’s policy on the importation of palm oil.

 He added:“We were also able to pursue our processing capacity and plantation expansion programmes as planned. The Bio-methenisation project which will ensure that we operate 100 per cent with green energy is very much on course and will be completed early next year.

“Presco continues to create additional value for its products by regular investment. We are currently investing in pellet plant for the export of palm Kernel Cake, bottling plan for the sale of oil to retail customers and  packaging plant. A palm kernel fractional plant, the first in Nigeria is also to be added in 2013, to make bakers fat.

“There is therefore ample opportunity for career growth and development for people who are determined, hardworking, committed and loyal and for those who are willing to learn.”

The statement added that at least 22 workers were honoured for their contributions to the growth of the company over the years at the event.

Pilani, explained that the annual event was a way of acknowledging the contributions of workers and ‘reward excellence.

He added, “It also affords us opportunity to socialise, take stock of our performance for the year and chart the course for improved performance in the New Year”.

Source: Punch (written by Udeme Ekwere)