The new management of Tantalizers Plc has set a revenue target of N48.58 billion by the year ended 2026 through leveraging on multiple strategic business units, subsidiaries and associated companies to drive growth and profitability.
Under the old management, the company closed 2024 financial with a revenue of N1.198 billion, about 17.4 per cent increase over N1.165 billion reported in 2023, and a loss before tax of N0.259 billion in 2024 from loss before tax of N0.284 billion declared in 2023.
The Company projected to increase its revenue to N17.4 billion in the current year of 2025 and to close the year 2026 with N48.58 billion.
The Group managing director of Tantalizers, Robert Speijer stated this at the company’s ‘Facts Behind the Figures’ presentation on the Nigerian Exchange Limited (NGX) yesterday in Lagos.
Soeijer said that revenue targets are essential for growth, financial stability, and long-term sustainability of the company.
He said the company is embarking on a bold transformation journey, repositioning itself as a diversified, multi-sectoral conglomerate that extends beyond its pioneering roots in Quick Service Restaurants (QSR) space
“This transformation shall be driven by strategic acquisitions (M&As), sector diversification, and deliberate corporate actions designed to unlock new revenue streams, enhance profitability, and position the company for long-term sustainability in Nigeria’s evolving economic landscape,” he said.
He expressed that the new management is committed to repositioning itself as a dynamic, high-value stock on the Exchange, with bold, clearly defined objectives to elevate its profile, enhance,
He noted that the company is expanding into the blue economy, saying that “the fisheries and aquaculture industry is a vital component of global food security, economic development, and employment. As the world’s demand for seafood continues to rise, the industry value sours. Tantalizers is positioning itself as a major player in the Blue Economy.”
The chairman, Tantalizers, Alhaji Adam Nuru noted that the new management took a very bold step in acquiring a major stake in Tantalizers.
According to him, the move reflects the management’s belief in the long term potential of this business and the industry, as well as the whole market.
He said, “The acquisition is more than a transaction. It is a strategic investment in growth, innovation, sustainability, and it strengthens our position, expands our reach, and reinforces our commitment to delivering value to shareholders, consumers and stakeholders who are here with us today.
The chief executive officer, Nigerian Exchange Limited, Mr. Jude Chiemeka, noted that the company holds a unique position as the only listed quick service restaurant offering company within the hospitality subs-sector on the Exchange.
Chiemeka added that, “with a market capitalisation of over N14.3 billion, the company maintains a distinct presence in the industry. This acquisition is not just a milestone for Tantalisers, it signals broader economic implications reinforcing Nigeria’s evolving business landscape and strengthening the value chain of the services sector.
“The services sector is a really strong sector. Tantalisers holds within the hospitality subsector of the services sector. The services sector itself, Q3 2024, contributed 58 per cent of our GDP. So that really defines the strength of that sector.”
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