PRESCO PLC Q3’23 Earnings: Elevated pricing sustains positive outturn

Analyst: Abigail Alabi* Target price: ₦232.11 Rating: BUY   In Q3’23, revenue increased by 65% y/y to ₦28.7 billion, primarily driven by strong domestic prices and increased volumes from the Siat Nigeria Limited acquisition. More so, gross margin expanded by 11ppts y/y to 59%, as the topline growth was able to mask the impact of…