FTN Cocoa Processors PLC (NGX: FTNCOCOA) Stocks
What is FTN Cocoa Processors Plc?
FTN Cocoa Processors Plc is a Nigerian-based company that traces its history to 1991 when it was incorporated as Fantastic Traders Nigeria Limited, a Limited Liability Company. The company started its operations with cocoa processing business through a third-party arrangement with Starmark limited in 1995, with the conversion of cocoa beans into cocoa butter as well as cocoa cake/powder.
Fantastic Traders Nigeria Limited eventually extended its third-party processing activities into Ile-Oluji, Cocoa Cooperative, Cocoa Akure, and several others. Within 13 years, the company managed to establish strong and strategic partnerships with several overseas buyers including:
- Theobroma BV in Netherlands
- Euromar in Berlin
- Trading and Services in France
- Union Chocolate in Poland
- Delfi Cocoa (Europe) in France and Netherlands
- Indcresa in Spain
- All Trade International in France
Fantastic Traders Nigeria Limited changed its registration to FTN Cocoa Processors Plc and through the years, it established several other strategic partnerships with reputable brands such as Nestle Nigeria plc, Promasidor Nigeria Limited, and others.
By March 2001, FTN Cocoa Processors Plc diversified its portfolio of operations to include palm kernel by establishing a 20,000 MT per annum crushing facility in Ibadan. The product portfolio included crude palm kernel oil and palm kernel cake which is sold to industrial users including edible oil refineries, soap manufacturers, and many others.
FTN Cocoa Processors Plc’s experience in processing cocoa led to the informed decision to lease cocoa products, paving the way towards privatisation in 2006. By 2005, FTN Cocoa Processors Plc decided to venture into full-scale self-production, with the process starting in March 2006.
The FTN Cocoa Processors Plc factory covers an area of 4 acres and has an initial processing capacity of 10,000 MT of cocoa beans. The factory is fully integrated with packing lines for a portfolio of products including cocoa butter, cocoa cake, cocoa liquor, and cocoa powder.
FTN Cocoa Processors Plc’s equity stocks are for sale online on the Nigerian Stock Exchange (NGX) under the stock symbol FTNCOCOA. Today, FTN Cocoa Processors Plc forms part of the Consumer Goods Sector and the Crop Production subsector.
FTN Cocoa Processors Plc Performance
The current share price for FTN Cocoa Processors Plc stocks is 0.48 NGN and the company has a total market capitalization of 1.06 billion NGN, with a P/E ratio of 0.0 NGN and earnings per share of 0.0 NGN, and a total of 2.2 billion shares outstanding.
In an analysis of financial data, FTN Cocoa Processors Plc showed that profits for the second quarter of 2022, which ended in June showed some improvements in the revenue, but sales and income growth was in a negative for the quarter that ended in June.
Net income growth was -375.19%, with sales and revenue recorded at 70.76 million NGN. The sales and revenue growth was -12.92% while the EBITDA that was reported amounted to -83.50 million NGN.
According to the balance sheet for FTN Cocoa Processors Plc, cash and short-term investment were 21.33 million NGN at the end of June, with total debt amounting to 6.63 billion NGN, total liabilities of 7.42 billion NGN, and a total shareholder’s equity of 37.37 million NGN.
The financial performance for FTN Cocoa Processors Plc for the second quarter of 2022 did not show many improvements and the book value per share was 0.02 NGN, which means that those who want to buy or sell FTNCOCOA stocks may not be assured of solid dividends or returns.
According to an analysis on the live chart for FTNCOCOA, analysts forecast that the share value may increase in the mid-term to long-term, with the short-term showing loss of value of 4%. The 3-month analysis showed an increase of 17.1%, 6 months showed 11.6% and the yearly performance was 84.6%.
Highlights of FTN Cocoa Processors Plc in 2022
FTN Cocoa Processors Plc started the year with a share price of 0.66 NGN, but it has since lost 27.3% off this price valuation, subsequently ranking it 149th on the Nigerian Stock Exchange where year-to-date performance is concerned.
FTN Cocoa Processors Plc is the 33rd most-traded stock on the Nigerian Stock Exchange and during the past three months, FTNCOCOA experienced a trading volume of 106 million shares, closed in 1,375 deals, with a combined value of 51.1 million during the period, with an average of 1.67 million shares traded in this session.
How to buy FTN Cocoa Processors Plc stocks Step-by-step
The stock market is one of the most attractive financial markets that sees millions of retail investors and traders’ participation daily. To buy, sell or trade FTNCOCOA stocks, traders and investors can follow these simple steps:
- Find the share that you want to purchase, in this case, “FTNCOCOA”.
- Select a forex broker that offers access to the Nigerian Stock Exchange (NGX).
- Review the broker’s trading conditions, fees, deposit and withdrawal methods, trading platform, customer support, regulation, and other components to ensure that they are aligned with your trading plan.
- Open a live trading account with the broker by completing the online application form and providing the necessary documentation to verify the trading account.
- Make your first share purchase through the broker.
- Build and diversify your portfolio by buying more shares.
What type of company is FTN Cocoa Processors Plc?
FTN Cocoa Processors Plc is a Nigerian-based company that is involved in the processing of cocoa beans as well as palm kernels.
In which industry and sector does FTN Cocoa Processors Plc operate?
FTN Cocoa Processors Plc forms part of the Consumer Goods Sector and the Crop Production subsector.
On which stock exchange does FTN Cocoa Processors Plc have shares for sale?
FTN Cocoa Processors Plc trades its equity on the Nigerian Stock Exchange (NGX) under the stock symbol FTNCOCOA.
What is the price of FTNCOCOA shares today?
The current price of FTNCOCOA shares is 0.48 NGN .
Is FTN Cocoa Processors Plc a good investment?
No, FTN Cocoa Processors Plc may not be a good investment right now because of poor financial performance for the second quarter. However, share value shows some increases in the mid-term that may be lucrative for shareholders.