Cocoa Processing Company Limited (CPC) has announced a widened net loss of US$10.23 million for the third quarter ending June 30, 2025, marking a deterioration from the US$9.57 million loss recorded during the same period last year.
The unaudited financial statements reveal the state-owned processor's operating loss expanded to US$7.29 million compared to US$6.94 million in 2024, as revenue declined sharply by 27 per cent to US$16.16 million from US$22.20 million year-on-year.
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The company's financial performance showed strain across all key metrics, with gross losses widening to US$5.05 million from US$4.01 million in the previous year.
Earnings per share fell further to negative US$0.0050, down from negative US$0.0047, while net assets per share dropped to negative US$0.0040, reversing the positive US$0.0020 recorded last year. These figures reflect the challenges facing Ghana's cocoa processing sector, where CPC serves as a major player.
CPC's financial health shows signs of stress, with total borrowings standing at US$38.72 million, including US$35.03 million in short-term debt obligations.
The company's trade payables surged by 50 per cent to US$75.31 million, with US$34.70 million owed to related party Cocoa Marketing Company. Despite processing 2,902 metric tonnes of cocoa beans, slightly up from 2,886MT in 2024, confectionery output fell by 30 per cent to 737MT, indicating operational difficulties in value-added production.
The workforce reduction from 424 employees in 2024 to 333 in 2025 suggests cost-cutting measures, while management pins hopes on a proposed US$97 million Afreximbank loan for debt refinancing and factory retooling.
Ghana Cocoa Board, holding 57.7 per cent of shares, continues supporting the company through bean supply arrangements, with the government maintaining its 26.1 per cent stake as the second-largest shareholder.