High cost of sales pushes Multi-Trex to N616m loss
Multi-Trex Integrated Foods Plc has recorded a N616m loss for its 2026 financial year, despite a revenue surge to N3.61bn, due to high cost of sales. Read More: https://punchng.com/high-cost-of-sales-pushes-multi-trex-to-n616m-loss/
Multi-Trex Integrated Foods Plc has seen a significant rise in revenue to N3.61bn for the unaudited annual period ending 30 April 2026, while its net loss after taxation widened to N615.06m. The financial statements from its Warewa facility in Ogun State report this surge in revenue, driven primarily by strong local sales (N3.11bn) and export revenues (N500m).
Despite the increased revenue, higher cost of sales (N3.10bn) and rising operating expenses (N1.11bn) led to a larger net loss after taxation. Multi-Trex's cocoa processing business experienced this financial downturn amidst broader challenges in the agricultural processing sector in West Africa, where raw material sourcing and input cost inflation play a crucial role.
The company, which has a long history of structural headwinds, including high leverage and debt-restructuring commitments, affirmed its commitment to remaining a going concern, with no indication of insolvency in the foreseeable future.
Written by urgent.news from Punch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
