FTN Cocoa Processors Plc has posted its first profit in nearly a decade, marking a major turnaround for the listed agro processing firm.
For the quarter ending March 2026, the business recorded a profit of N954.37 million, therefore turning around the loss suffered in the corresponding period of last year. Strong revenue increase, higher operational efficiency, and a sizable foreign exchange gain propelled the recovery.
Financial statistics reveal that revenue nearly doubled to N1.09 billion, mostly driven by higher domestic sales of cocoa products, notably cocoa powder, with some support from export earnings.
Even with increasing costs for raw materials and manufacturing, the business returned to a positive gross profit position, suggesting better cost management.
The News Chronicle reports that the change shows a mix of better market conditions and internal restructuring initiatives, with the company tightening expenditures while increasing its product reach across domestic and export markets.
A significant swing in foreign exchange performance, which boosted overall earnings and drove operating profit into positive territory, provided further backing. Additionally enhancing cash flow was the period’s increased liquidity from improved collections and management of working capital.
Even though the stock of the firm has experienced pressure in the past, this return to profitability might indicate fresh investor interest if the momentum is maintained.
For now, the results mark a significant milestone for a company that has spent years navigating losses in a challenging operating environment.
