FTN Cocoa Processors

FTN Cocoa Processors Plc has announced a loss after tax of N10.62 billion for the financial year ended December 31, 2024, representing a marginal improvement of zero percent from the N10.65 billion loss recorded in the corresponding period of 2023. Key Highlights: - N10.62 billion loss after tax for the financial year ended December 31, 2024 - 100% increase in revenue to N1.38 billion, compared to zero revenue in 2023 - Exchange loss of N11.68 billion, a 15% increase from N10.18 billion in 2023 - High costs and exchange rate losses continue to impact the company's financial performance Despite achieving a significant 100% increase in revenue, FTN Cocoa Processors Plc struggled to translate this growth into profitability due to high costs and substantial exchange rate losses.