FTN Cocoa Processors Posts N252.1m Loss

FTN Cocoa Processors Plc. has announced a loss before tax of N252.1 million in its half-year period ended June 30, 2014. The statement, which the company filed with the Nigerian Stock Exchange, NSE, showed that the figure was 2.9 per cent lower than the N259.7 million loss before tax it declared in the same period of 2013.
The company generated revenue of N159.7 million, which indicated a 111 per cent rise in revenue year-on-year. FTN Cocoa Processors had posted revenue of N75.6 million in the half-year ended June 30, 2013. Also, the company said it made a gross loss of N139.5 million, compared to the gross loss of N111.9 million it made in the same period of last year.
FTN Cocoa Processors is listed on the main board of the NSE, in the crop production sub-sector of the agriculture sector. According to the exchange it has a market capitalisation of N1.1billion with 2.2 billion shares outstanding.

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