Tantalizers posts first annual loss in four years

Tantalizers Plc, a fast food company in Nigeria, has reported a loss after tax of N422.05 million for the financial year 2020, compared with a profit after tax of N22.17 million a year earlier.

This is its first annual loss in four years. The company returned to profitability in 2017 after posting a loss of N1.02 billion in 2016.

The company posted a loss before tax of N411.98 million last year, compared with a profit before tax of N33.43 million in 2019.

Its revenue fell to N924.13 million in 2020 from N1.26 billion in the previous year, according to its financial statements.