…shareholders commend turnaround strategy
Tantalizers Plc has assured shareholders that its return to profitability marks the beginning of a broader long-term growth strategy anchored on operational discipline, earnings diversification and prudent financial management.
Speaking at the company’s annual general meeting recently, Adam Nuru, the company’s chairman said the quick-service restaurant operator’s return to profit in the 2025 financial year was driven by stronger revenue generation, improved finance income, disciplined cost management and sustained operational efficiency.
He said the company would continue to build on those gains while expanding into new business segments to create sustainable value for shareholders.
“The board remains focused on improving the quality, sustainability and scalability of earnings while maintaining prudent financial management,” Nuru said.
Tantalizers reported a profit after tax of N73 million in 2025, reversing a N265.59 million loss recorded in the previous year.
Revenue rose to N2.90 billion, while gross profit stood at N463.78 million and profit before tax reached N83.70 million.
Nuru described the year as a turning point for the company, saying it had begun transitioning from a traditional quick-service restaurant business into a diversified consumer-focused enterprise with multiple growth platforms.
“Today, Tantalizers is no longer defined solely by its legacy business. We are building a broader platform capable of participating in multiple sectors of the consumer economy while maintaining the operational discipline necessary to create long-term shareholder value,” he said.
According to him, the company will continue to make selective investments in businesses capable of delivering sustainable returns while reducing dependence on a single revenue stream.
He cited investments in entertainment, fisheries, technology and human capital as part of the company’s diversification strategy.
“Our objective is clear: to diversify earnings, reduce concentration risk and build a more resilient enterprise capable of delivering sustainable shareholder returns across economic cycles,” he said.
Nuru disclosed that the company’s entertainment subsidiary, Tantainment Limited, has completed the regulatory, technological and operational frameworks required for commercial launch and is now focused on audience acquisition, strategic partnerships, content development and revenue generation.
He added that Tantalizers Fisheries Limited has also made significant progress in developing infrastructure and organisational capacity to support long-term competitiveness.
Expressing confidence in the company’s outlook, Nuru said Tantalizers was better positioned than in previous years despite prevailing macroeconomic uncertainties.
“The successful turnaround of our food business demonstrates the effectiveness of operational discipline and strategic focus. Our investments in entertainment and fisheries create entirely new avenues for growth and have the potential to significantly strengthen and diversify our earnings over time,” he said.
Shareholders at the virtual annual general meeting commended the board and management for restoring the company to profitability and endorsed all resolutions presented.
The meeting approved the appointment of Akintade Ogidan as a director, while Abosede Ayeni was re-elected as a non-executive director, Bamidele Oke as an executive director and Israel Ovirih as a non-executive director.
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