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Mar 30, 2024Keywords:
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Main Article Content
Analysis of Agribusiness Financial Statement of Presco Nigeria: 2010-2020
Abstract
The study was conducted in Presco Nigeria Limited. Single-stage sampling was used in selecting the sample size of the study. The purposive selection of ten (10) financial statements from the past ten years out of the financial statements of other years was used as the sample size of this study. Liquidity Ratios, Leverage Ratios, net worth formula and Profitability Ratios were used to analyze the financial status of Presco Nigeria Limited. Results indicated that Presco Nigeria Limited cannot effectively meet its short-term obligations since its ratios fell below the benchmark of 1.5 - 3.0 hence, the need to reduce its current liabilities or increase its current assets. It was recommended that the company should be very careful while recording financial figures. This is due to the numerous anomalies recorded in some financial figures, especially in 2016. The company should reduce its reliance on debts as it may be financially distressed in the future as indicated by its high Debt to EBITDA Ratios (greater than 3.0).
