Nigeria’s leading fast food restaurant, Tantalizers Plc, has reported a loss of N106.45 million to N1.16 billion in 2022, indicating a 9.48% decrease from the N1.27 billion the company reported during the same period in 2021.
This information was disclosed in its financial statement for the year ended December 20, 2022.
Summary of the key takeaways from the financial report:
Revenue:
2022 FY: N1,163,820,321
2021 FY: N1,270,277,196
Change: -9.48%
Gross Profit:
2022 FY: N415,637,493
2021 FY: N508, 581, 873
Change: – 22.4%
Operating Loss:
2022 FY: N167, 577,412
2021 FY: N137, 768, 702
Change: +17.79%
Loss after tax:
2022 FY: N264, 091,456
2021 FY: N214, 821, 581
Change: +18.65%
RateCaptain’s analyst believes the cause behind this decline can be attributed to increased competition within their industry, which led them to reduce prices for goods and services, resulting in a loss; additionally, they may have had higher operational costs due to new investments.
