04/08/2011 (Bloomberg) - Presco Plc (PRESCO), a Nigerian palm-oil producer, headed for a two-week high after Renaissance Capital said the company’s first-half profit more than doubled.

The stock gained 37 kobo, or 4.9 percent, to 7.87 naira, by 12:29 p.m. in Lagos. A close at this price would be its highest since July 19.

Net income increased to 1.5 billion naira ($9.8 million) in the period compared with 718 million naira a year earlier, Akinbamidele Akintola, a Lagos-based equity trader with Renaissance, wrote in an e-mailed note to clients today.