Tantalizers Plc has released its audited financial statements for the year ended December 2025, reporting a pretax profit of N83.6 million, bouncing back strongly from a N259.5 million loss in 2024.
The company’s net revenue remained steady, rising to N1.29 billion from N1.19 billion the previous year, supported by steady sales growth across its core restaurant operations.
Beyond revenue, higher other income and lower administrative expenses helped Tantalizers post a positive bottom line, reflecting efficient operations.
Total assets jumped to N13.3 billion, up 353.5%, largely fueled by its entertainment subsidiary; Taintainment Ltd, which contributed N7.5 billion, emerging as the company’s largest asset.
Key Highlights (FY 2025 VS FY 2024)
- System revenue: N2.90 billion (up 34.3% YoY from N2.16 billion)
- Net revenue: N1.29 billion (up 7.7% YoY from N1.19 billion)
- Cost of sales: N827.08 million (up 7.0% YoY from N773.33 million)
- Gross profit: N463.78 million (up 9.1% YoY from N425.16 million)
- Other income: N234.71 million (up 90.3% YoY from N123.28 million)
- Operating profit: N25.31 million (up from an operating loss of N189.93 million)
- Pre-tax profit: N83.69 million (up from a loss of N259.59 million)
- Profit after tax: N72.74 million (up from a loss of N265.59 million)
- Earnings per share (basic): 1 kobo (up from a loss of 5 kobo)
Driving the Numbers
Tantalizers posted total system revenue of N2.9 billion for the 2025 financial year, translating to a net revenue growth of 7.7% year-on-year or N1.2 billion.
- After accounting for a cost of sales of N827 million, gross profit settled at N463.7 million, up 9.1% from N425.1 million in 2024.
- The company also recorded other income of N234.7 million, rising 90% year-on-year, led by franchise income of N118.3 million and rent income of N103.8 million.
- Write-backs of N77.4 million supported operations, and after administrative expenses of N747.3 million (down 9.5%), operating profit came in at N25.3 million, improving from an operating loss of N189.9 million the previous year.
Net finance costs of N58.3 million helped the bottom line, with pretax profit rebounding to N83.6 million, compared to a N259.5 million loss in 2024.
- After accounting for tax of N10.9 million, post-tax profit stood at N72.7 million, with earnings per share at 1 kobo, up from a loss of 5 kobo the previous year.
- On the balance sheet, total assets grew to N13.3 billion, up from N2.9 billion, largely driven by investments in Taintainment Ltd, which contributed N7.5 billion, making it the company’s largest asset.
Total equity rose to N4.7 billion from N1.17 billion in 2024, while total liabilities reached N8.6 billion, compared to N1.5 billion previously. Lease payables of N7.1 billion formed the bulk of the liabilities.
Market reaction
The market has yet to fully react to the publication of Tantalizers’ audited financial statements.
However, the stock is up 68% year-to-date as of the trading day ended March 3, 2026, currently priced at N4.20 per share, with investors expected to respond further in the coming sessions.
