Fast food restaurant chain Tantalizers Plc has set a revenue target of N18bn by the end of the 2025 financial year as the company unveils a transformation plan that includes expansion into the fishery and entertainment industries.

This was disclosed by the Group Managing Director, Tantalizers Plc, Robert Speijer, during the ‘Facts Behind the Figures’ presentation at the Nigerian Exchange Limited on Thursday.

Speijer emphasised the need to reposition Tantalizers as a diversified company while retaining its food business.

He disclosed that the company intends to venture into the fishery sector and the entertainment industry to drive additional revenue streams.

“Tantalizers is a well-known brand in Nigeria, but we want to take things further. We still want to be in the food business, but we are expanding. We are looking at the fishery business, where we plan to bring in fish from Apapa, some of which will be exported. Nigeria currently spends nearly $1bn annually on fish imports, and this sector contributes significantly to the country’s Gross Domestic Product.”

We are positioning ourselves to tap into this market,” Speijer said.

He further revealed that the company plans to acquire 10 new trawlers by 2025 to enhance fish supply and create business opportunities for local entrepreneurs. Additionally, the firm aims to position itself among the top 50 companies in Nigeria, leveraging its diversified operations to boost financial performance and shareholder value.

Also speaking at the event, the chairman of Tantalizers Plc, Adam Nuru, described the company’s recent acquisition as a bold intervention to reposition the brand and drive profitability.

He stated, “We took a bold move regarding Tantalizers. The acquisition is a keenly structured transaction, but more importantly, it is a sustainable intervention for growth and long-term value creation. For all of you who analyse or share investment insights on stocks, we want to assure you that we are breaking from the past and revolutionising the food industry.”

I implore you to keep a close eye on the company, and let’s work together to cross this milestone.”

According to its financial statements, the company recorded a turnover of N1.165bn in 2023 and N1.198bn in 2024. However, with the new business model, turnover is projected to rise to N17.4bn in 2025 and N48.58bn by 2026. Gross profit is also expected to increase from N0.425bn in 2024 to N8.09bn in 2025 and N30.14bn in 2026.

Similarly, the company, which reported a loss after tax of N0.29bn in 2023 and N0.265bn in 2024, expects to turn around its fortunes with a profit after tax of N4.18bn in 2025 and N16.08bn in 2026. Earnings per share, which stood at negative eight kobo in 2023 and negative five kobo in 2024, are projected to rise to 42 kobo in 2025 and N1.07 in 2026, while dividend per share (DPS) is expected to increase from zero in previous years to eight kobo in 2025 and 21 kobo in 2026.

Tantalizers’ total assets, valued at N2.25bn in 2023 and N2.293bn in 2024, are projected to reach N22bn by 2025, reflecting the impact of the company’s aggressive expansion strategy. The equity base is also expected to rise from five billion units in 2024 to 10 billion units in 2025 and 15 billion units in 2026. The company’s share price, currently estimated at 20 kobo, is projected to hit N2.0 in 2024, N10 in 2025, and N15 in 2026.

As part of its commitment to shareholders, the company has pledged to maintain transparent communication with investors, focus on long-term value creation, and execute strategic acquisitions to drive sustainable profitability.

In his remarks, the Chief Executive Officer of NGX Limited, Jude Chiemeka, welcomed the management of Tantalizers to the Exchange, commending the company for its efforts to reposition and drive business expansion. He encouraged investors to closely monitor the company’s progress as it embarks on its new growth trajectory.

The PUNCH reported that Tantalizers Plc has appointed a new Group Managing Director, Robert Speijer, and a Group Deputy Managing Director, Charles Ifidon, with effect from October 29, 2024.