Cocoa Processing Company Limited posts $13.08M loss
State-owned Cocoa Processing Company Limited (CPC) reported a deepening financial loss of $13.08 million for the nine months ending September 30, 2024, a 5.6% increase from the $12.38 million loss recorded during the same period last year. The mounting losses are primarily due to escalating operational costs, particularly in selling, distribution, and financial expenses. According to CPC's unaudited financial statement, revenue for Q3 2024 fell to $31.1 million, a 3.86% decrease from the previous year’s $32.3 million. Production also took a hit, with processed cocoa beans dropping to 3,256 metric tonnes from 7,051 metric tonnes in 2023. Output of semi-finished...
