Multi-Trex Posts ₦196.07m Q1 Loss as Turnover Falls to ₦3.08m
Multi-Trex Integrated Foods Plc recorded a ₦196.07m after-tax loss for the three months ended July 31, 2025, as turnover stood at ₦3.08m. The cocoa processor also reported ₦196.56m in operating expenses and a ₦66.82m net operating cash outflow.
Multi-Trex Integrated Foods Plc recorded a loss after tax of ₦196.07m in its unaudited results for the first quarter ended July 31, 2025.
The Ogun State-based cocoa processor generated ₦3.08m in turnover during the three-month period. All of the revenue came from domestic sales, with no export revenue reported for the quarter.
Operating expenses reached ₦196.56m, while finance charges stood at ₦261,000. The company also reported a negative ₦34.70m operating result before movements in working capital and a net cash outflow of ₦66.82m from operating activities.
Direct sales costs amounted to ₦2.34m, leaving gross profit at ₦743,000. For comparison, Multi-Trex's audited financial year ended April 30, 2025, recorded turnover of ₦47.90m, gross profit of ₦41.08m and a net loss of ₦423.20m.
The company's assets were valued at ₦15.69bn at the end of July, compared with ₦15.93bn at the end of April. Non-current assets accounted for ₦13.00bn, including ₦12.95bn in fixed assets.
Current assets totalled ₦2.69bn. This included ₦1.85bn held in bank and cash balances and ₦841.80m in debtors and prepayments. No inventories were recorded.
Liabilities stood at ₦2.56bn, including ₦470.04m in current borrowings and ₦1.33bn owed through creditors and accruals. Total equity was ₦9.78bn, while a second-tier capital deposit for shares amounted to ₦3.35bn.
Multi-Trex reported a basic loss of three kobo per share for the quarter. Its audited full-year result had shown a seven-kobo loss per share.
The financial disclosures also recorded changes to the company's board. Non-executive directors Teju Bolujoko, Moni Owofemi, Ajibola Ogunsiji and Nurain Hassan resigned with effect from October 9, 2025.
Management, led by Managing Director and Chief Executive Officer Yusuf Isiaka, said the company remained committed to financial reporting requirements and internal controls, while maintaining its expectation that the business would continue operating over the following year.