FTN Cocoa Processors Reports N273.4m Loss Despite Revenue Growth
FTN Cocoa Processors Plc announced a loss before tax of N273.4 million for the 2025 financial year, despite a revenue increase to N5.65 billion, a 310.5 percent rise from N1.38 billion in 2024. The company’s cost of sales surged to N6.3 billion in 2025, driven by N5.29 billion in raw material expenses, compared to N536.59 million in 2024.
FTN Cocoa has struggled with production capacity, operating at only five percent due to inadequate working capital, which has negatively impacted its gross margin. The company reported total assets of N24.14 billion, a 14.4 percent increase from N21.09 billion in 2024, while total liabilities rose to N23.71 billion, a 34.4 percent increase from N17.65 billion in 2024.
FTN Cocoa secured a N5 billion loan from NEXIM Bank at a nine percent interest rate per annum for two years, intended for the procurement and processing of cocoa products for export.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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