FTN Cocoa Processors Reduces Loss to N78m in Q1

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Goddy Egene

FTN Cocoa Processors Plc has reported a loss after tax of N78.087 million for the first quarter ended March 31, 2020, showing an improvement compared to the loss of N122.747 million recorded in the corresponding period of 2019.

The company recorded a revenue of N136.010 million, down from N196.541 million in 2019. Cost of sale fell from N304.698 million to N198.544 million. Hence, it ended with lower loss of N78.087 million