Tantalizers Returns to Profit with N83.6m Gain in 2025

Tantalizers Plc has posted a pre-tax profit of N83.6 million for the financial year ended December 2025, marking a turnaround from the N259.5 million loss recorded in 2024.

The company’s audited results show modest revenue growth and improved cost management, which together supported its return to profitability.

Tantalizers reported net revenue of N1.29 billion in 2025, representing a 7.7 per cent increase from N1.19 billion in the previous year. Total system revenue rose by 34.3 per cent year-on-year to N2.9 billion.

Cost of sales climbed slightly to N827.08 million, up 7 per cent from N773.33 million in 2024. However, gross profit improved by 9.1 per cent to N463.78 million, reflecting stronger margins.

The company also recorded a sharp rise in other income, which jumped 90.3 per cent to N234.71 million. Franchise income and rent receipts were key contributors, alongside write-backs that supported operations during the year.

Administrative expenses declined by 9.5 per cent to N747.3 million, helping the firm swing to an operating profit of N25.31 million from an operating loss of N189.93 million in 2024.

After accounting for net finance costs of N58.3 million, pre-tax profit stood at N83.69 million. Profit after tax came in at N72.74 million, compared to a loss of N265.59 million the previous year. Earnings per share improved to 1 kobo from a loss of 5 kobo in 2024.

Assets Surge on Entertainment Investment

On the balance sheet, total assets expanded significantly to N13.3 billion, up 353.5 per cent from N2.9 billion in 2024. The increase was largely driven by investments in its entertainment subsidiary, Taintainment Ltd, which accounted for N7.5 billion and emerged as the company’s largest asset.

Total equity rose to N4.7 billion from N1.17 billion a year earlier, while total liabilities increased to N8.6 billion, compared to N1.5 billion in 2024. Lease payables, amounting to N7.1 billion, made up the bulk of liabilities.

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In the equities market, Tantalizers’ shares have gained 68 per cent year-to-date as of March 3, 2026, closing at N4.20 per share. Market analysts say investors are likely to react further to the audited results in the coming trading sessions as the company consolidates its recovery.