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. The company's exchange loss of N11.68 billion highlights the challenges posed by currency fluctuations, which have had a detrimental impact on the company's financial performance.

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The user WaneInvestmentHouse holds no position in NGSE:FTNCOCOA. Simply Wall St has no position in any of the companies mentioned. The author of this narrative is not affiliated with, nor authorised by Simply Wall St as a sub-authorised representative. This narrative is general in nature and explores scenarios and estimates created by the author. The narrative does not reflect the opinions of Simply Wall St, and the views expressed are the opinion of the author alone, acting on their own behalf. These scenarios are not indicative of the company's future performance and are exploratory in the ideas they cover. The fair value estimates are estimations only, and does not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that the author's analysis may not factor in the latest price-sensitive company announcements or qualitative material.

FTN Cocoa Processors Plc Reports N10.62bn Loss After Tax Despite 100% Revenue Surge

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