Tantalizers Sets N18 Billion Revenue Target by 2025, Expands into Blue Economy
The new management of Tantalizers Plc has set an ambitious revenue target of N18 billion by the end of the 2025 financial year, leveraging multiple strategic business units, subsidiaries, and associated companies to drive growth and profitability.
The company, under its previous management, closed the 2024 financial year with N1.198 billion in revenue, an increase of 17.4% from N1.165 billion recorded in 2023, but still posted a loss before tax of N0.259 billion, a slight improvement from the N0.284 billion loss before tax declared in 2023.
Strategic Transformation and Expansion Plans
Speaking at the company’s “Facts Behind the Figures” presentation on the Nigerian Exchange Limited (NGX) in Lagos, Group Managing Director of Tantalizers, Mr. Robert Speijer, emphasised the importance of revenue growth for the company’s financial stability and long-term sustainability.
He revealed that Tantalizers is undergoing a bold transformation, repositioning itself as a diversified, multi-sectoral conglomerate, expanding beyond its traditional Quick Service Restaurant (QSR) operations.
“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 economy,” Speijer stated.
As part of this expansion, he highlighted Tantalizers’ entry into the Blue Economy, positioning itself as a major player in fisheries and aquaculture.
“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 soars. Tantalizers is positioning itself as a major player in the Blue Economy,” Speijer added.
Bold Acquisition and Stakeholder Confidence
Speaking earlier, Chairman of Tantalizers, Alhaji Adam Nuru, described the acquisition of a major stake in Tantalizers by the new management as a strategic investment in the company’s future growth and expansion.
“The acquisition is more than a transaction; it’s a strategic investment in growth, innovation, and sustainability. It strengthens our position, expands our reach, and reinforces our commitment to delivering value to shareholders, consumers, and stakeholders,” Nuru stated.
He urged capital market stakeholders to monitor the company’s progress closely.
“To all of you who analyse, trade, and shape the movement of stocks, I assure you that we are building a strong, forward-looking company ready to capitalise on opportunities in the evolving food industry. I solicit your support as we unlock the potential of this new chapter,” he added.
Tantalizers’ Market Position and Industry Significance
In his remarks, Chief Executive Officer of the Nigerian Exchange Limited, Mr. Jude Chiemeka, highlighted Tantalizers’ unique position as the only listed quick-service restaurant (QSR) company on the NGX.
“With a market capitalisation of over N14.3 billion, Tantalizers holds a distinct presence in the hospitality sub-sector of the services sector,” Chiemeka noted.
He also pointed out that the services sector remains a key driver of Nigeria’s economy.
“In Q3 2024, the services sector contributed 58% to Nigeria’s GDP, underscoring its strength. Tantalizers’ transformation signals broader economic implications, reinforcing Nigeria’s evolving business landscape and strengthening the value chain of the services sector,” he concluded.
Positioning for Long-Term Growth
With its bold N18 billion revenue target, diversification strategy, and expansion into the Blue Economy, Tantalizers Plc is positioning itself for long-term growth and profitability in Nigeria’s evolving economic terrain.
