Stocks under review _ Cocoa Processing Company Limited (CPC)

Cocoa Processing Company Limited (CPC) based in Tema was established in 1965. It was incorporated as a limited liability company in November 30, 1981 and publicly listed on the Ghana Stock Exchange on February 14, 2003.

The company comprises three factories: two Cocoa Factories and a Confectionery Factory. The company processes raw cocoa beans into semi-finished products – Cocoa liquor, Butter, Natural or Alkalized Cake or Powder whilst the Confectionery Factory manufactures the Golden Tree Chocolate Bars, Couverture, Chocolate Coated Peanut (Pebbles), VITACO and ALLTIME drinking chocolate powder, Choco Delight (Chocolate spread), Choco Bake and Royale natural cocoa powder.

The CPC factories process only the choicest premium Ghana cocoa beans without any blending, probably the only factory in the world which can make such a claim. Through intensive research and product development, CPC turns out products, which meet international quality standards and consumer satisfaction.

The Cocoa Factories have an annual throughput of 65000 metric tonnes of premium Ghana Cocoa beans.

CPC, thrice won gold medals in, 1980, 1982 and 1989 in the Monde Selection Competition in Brussels, Belgium.

In the fourth entry of Monde Selection Competition in 1997, all eight products presented won gold medals – the seven branded Golden Tree Chocolates as well as VITACO Drinking Chocolate.

In 2002, the company presented nine products and eight of them, the seven branded chocolates and Alltime Drinking chocolate won Gold while Vitaco Drinking chocolate won Silver.  

August 1, 2014 as reported by Daily Graphic, the company was unable to recommend the payment of dividend because of financial constraints. The shareholders complained that no dividend had been declared for the past 10 years, and described the situation as worrying; especially when the numbers were not showing any recovery.

In the 2017/2018 cocoa season, the company broke and set its own record. For the first time in 53 years, CPC processed 25,089 tonnes of cocoa beans, its Managing Director, Nana Agyenim Boateng, said in an interview. “Previously there was no beans to process because Ghana Cocoa Board (COCOBOD) was not prepared to support us, but now the government has stepped in and its helping,” said on February 11, 2019. The arrangement of the national cocoa regulator, which owns 57.73 percent of the cocoa grinder, gave it comfort to reignite its innovative self and launch on to higher targets.

In December 2018, the company introduced its version of the artisanal chocolate under its Golden Tree brand but in three different flavors.

Their lowest share-trading price is GHS 0.010 pesewas while its highest trading price is GHS 0.030 pesewas.

Per the Cocoa Processing Company Limited (CPC) draft financial statements for the year ended September 30, 2019, the CPC made a loss of US$5,941,436 as compare to US$5,351,994 in 2018.

Earnings per share also stood at (0.003) pesewas in 2019 and (0.003) pesewas in 2018.

Currently, it shares goes for GHȼ0.020 as at June 17, 2020.


Sources:, GSE.

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