Livestock Feeds Plc is feeling the heat from rising operational costs that have seen the Lagos-based feed manufacturer net income take a hit by nearly 80 percent.
According to the company’s unaudited financial report for the first quarter (Q1) of 2025, cost of sales surged 53 percent year-on-year, climbing from N6 billion in Q1 2024 to N9.2 billion in the same period in 2025.
This rise in input costs plunged net profit by 79 percent, with earnings dropping from N181 million to N38.2 million, raising concerns about the company’s profitability outlook for the remainder of the year.