Tantalizers Plc, a renowned fast-food chain in Nigeria, has unveiled an ambitious transformation plan aimed at revitalizing the brand and achieving substantial financial growth. The company has set a revenue target of N18 billion by the end of the 2025 financial year, a significant leap from its current performance. This aggressive growth strategy hinges on diversification beyond its core food business into the promising fishery and entertainment sectors. The company believes that these new ventures, coupled with a renewed focus on its existing operations, will position Tantalizers among the top 50 companies in Nigeria.
The diversification strategy is driven by the recognition of untapped opportunities within the Nigerian economy. The fishery sector, in particular, presents a lucrative avenue for growth, with Nigeria spending nearly $1 billion annually on fish imports. Tantalizers plans to capitalize on this demand by importing fish, some of which will be for export. The company plans to acquire ten new trawlers by 2025 to bolster its fish supply chain and create business opportunities for local entrepreneurs. This strategic move aims to reduce Nigeria’s reliance on fish imports while contributing significantly to the country’s GDP. The move into entertainment, while less detailed, signifies a broader strategy to diversify revenue streams and leverage the Tantalizers brand recognition.
The company’s recent acquisition, described by Chairman Adam Nuru as a “bold intervention,” underscores the commitment to repositioning the brand and achieving long-term profitability. This restructuring is expected to pave the way for a significant turnaround in Tantalizers’ financial performance. The projected financial figures paint a picture of dramatic growth, with turnover expected to surge from N1.198 billion in 2024 to N17.4 billion in 2025 and a further jump to N48.58 billion by 2026. This significant increase in revenue is expected to translate into substantial profits, shifting the company from a loss of N0.265 billion in 2024 to a profit after tax of N4.18 billion in 2025 and N16.08 billion in 2026.
These projected financial gains are expected to positively impact shareholder value. Earnings per share, currently in negative territory, are projected to rise to 42 kobo in 2025 and N1.07 in 2026. Similarly, dividends per share are expected to increase from zero to eight kobo in 2025 and 21 kobo in 2026. These figures reflect the confidence of the management in the transformative power of their strategic plan. The projected increase in total assets, from N2.293 billion in 2024 to N22 billion in 2025, further underscores the scale of the planned expansion. The company’s equity base is also set for substantial growth, projected to increase from five billion units in 2024 to 10 billion units in 2025 and 15 billion units in 2026. Even the share price is projected to see exponential growth, from the current 20 kobo to N2.0 in 2024, N10 in 2025, and N15 in 2026.
The leadership driving this transformation comprises recently appointed Group Managing Director, Robert Speijer, and Group Deputy Managing Director, Charles Ifidon. Speijer, during the “Facts Behind the Figures” presentation at the Nigerian Exchange Limited (NGX), emphasized the need to reposition Tantalizers as a diversified company while maintaining its core food business. This dual focus on expansion and consolidation is key to the company’s strategy. The management has also pledged to maintain transparent communication with investors, prioritizing long-term value creation and executing strategic acquisitions to drive sustainable profitability. This commitment to transparency and stakeholder engagement is crucial for building investor confidence and ensuring the long-term success of the transformation plan.
The Nigerian Exchange Limited has welcomed Tantalizers’ ambitious growth plans, commending the company’s efforts to reposition itself and drive business expansion. This endorsement from the NGX provides further validation of the company’s strategy and its potential for success. Investors are encouraged to closely monitor Tantalizers’ progress as it embarks on this new growth trajectory, which promises a significant transformation for the brand and substantial returns for its shareholders. The company’s strategic shift from a predominantly fast-food business to a diversified entity incorporating fishery and entertainment represents a bold move in a competitive market. The success of this transformation hinges on effective execution, market responsiveness, and the ability to leverage the existing brand recognition to penetrate new sectors successfully.
