Multi-Trex reports first quarter loss amid contraction

Multi-Trex Integrated Foods Plc announced a first quarter loss of N196.07 million amid a contraction in operations. The cocoa processing company reported a turnover of N3.08 million for the three-month period, down significantly from N47.90 million in the previous full year. Revenue was solely from local sales, while export sales were non-existent.

The gross profit for the quarter was N743,000, a decline from the N41.08 million recorded in the full year. Operating expenses reached N196.56 million, while finance charges amounted to N261,000. Operating profit before working capital changes was negative at N34.70 million, and net cash outflow from operating activities totaled N66.82 million.

Total assets declined slightly to N15.69 billion as of July 31, 2025, while total liabilities stood at N2.56 billion, comprising current borrowings of N470.04 million. The equity of the company was N9.78 billion, with non-current assets valued at N13 billion. Basic loss per share was 3 kobo, lower than the 7 kobo loss per share in the previous full year.

The board witnessed changes with the resignation of non-executive directors Dr. Teju Bolujoko, Mrs. Moni Owofemi, Hon. Ajibola Ogunsiji, and Mr. Nurain Hassan on October 9, 2025. Management reaffirmed its commitment to financial reporting standards and internal controls, asserting that the company remains a going concern for the year ahead.