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Tantalizers Plc has returned to profitability after several years of losses, reporting a net profit after tax of N73 million for the 2025 financial year as the company outlined plans to diversify its revenue base through investments in entertainment and fisheries.
At the company’s annual general meeting, shareholders also endorsed the board’s strategy for expanding beyond its traditional quick-service restaurant business, while approving all resolutions presented, including the appointment and re-election of directors.
Chairman of Tantalizers Plc, Alhaji Adam Nuru, attributed the return to profit to stronger revenue generation, improved finance income, cost discipline and operational improvements. He said the company intends to build on the recovery by pursuing investments designed to create additional sources of earnings.
According to the audited results presented at the meeting, Tantalizers recorded a turnover of N2.90 billion in 2025, with gross profit of N463.78 million and profit before tax of N83.70 million. The company posted a net profit after tax of N73 million, compared with a net loss of N265.59 million in 2024, ending a prolonged period of losses.
Nuru said the board viewed the return to profitability as an important milestone rather than the completion of the company’s recovery efforts. “The board remains focused on improving the quality, sustainability and scalability of earnings while maintaining prudent financial management,” he said.
He said the company’s turnaround was driven by strategic decisions aimed at strengthening operational fundamentals while reducing execution risks. According to him, Tantalizers is repositioning itself as a diversified consumer-focused enterprise instead of relying solely on its legacy restaurant operations.
“Today, Tantalizers is no longer defined solely by its legacy business. We are steadily 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,” Nuru said.
He said the company would continue to invest selectively in businesses capable of generating sustainable long-term value, citing investments in entertainment, fisheries, technology and human capital. “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 said Tantainment Limited, the company’s entertainment subsidiary, had established the regulatory, technological and operational frameworks required for commercial launch and was now focused on audience acquisition, strategic partnerships, content development and transitioning into revenue-generating operations.
He added that Tantalizers Fisheries Limited had also made substantial progress in developing infrastructure and organisational capacity to support its long-term operations. While acknowledging that economic conditions remain uncertain, Nuru said the company believed it was in a stronger position than in previous years to execute its strategy.
“I’m more encouraged by the company’s prospects than at any point in recent years. 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 and profit over time.
“Although economic conditions remain uncertain and execution challenges remain, we believe that the company is substantially better positioned today than it was in 2025. Our strategy is clear. Our governance is strong. Our people are committed. And our determination to create long-term shareholder value remains unwavering,” he said.
Shareholders at the virtual annual general meeting commended the board and management for returning the company to profitability after years of losses. They also approved all resolutions presented at the meeting, including the appointment of Mr Akintade Ogidan as a director and the re-election of Mrs Abosede Ayeni as Non-Executive Director, Mr Bamidele Oke as Executive Director and Dr Israel Ovirih as Non-Executive Director.
