Nigeria, April 9 -- Post-tax profit at oil palm company Presco jumped far more than double to N77.8 billion in 2024, partly due to its recent expansion into the Ghanaian market.

That helped lift margin to 37.5 per cent from 31.6 per cent a year ago for the oil palm giant, acquired by local investor Oak and Saffron last year from Belgium-based Siat SA.

Presco bought a 60 per cent controlling stake in Ghana Oil Palm Development Company Limited last August in its drive to scale and exploit fresh potential in the West African nation, where the demand for palm oil - a vital ingredient in nearly 50 per cent of the packaged products on supermarket shelves - is currently almost three times the supply.

The big picture is to take over the Ghanai...