Optimism dominated discussions at the Annual General Meeting (AGM) of Tantalizers Plc as shareholders praised the company's return to profitability after years of losses, while the Board of Directors reaffirmed its commitment to sustaining growth and delivering long-term value to investors.
At the virtual AGM, shareholders commended the board and management for steering the company back to profitability in the 2025 financial year, describing the performance as a positive sign of improved corporate governance, operational efficiency and strategic direction.
Speaking at the meeting, Chairman of Tantalizers Plc, Alhaji Adam Nuru, attributed the company's financial turnaround to deliberate strategic decisions aimed at strengthening its operational foundations, reducing execution risks and positioning the business for sustainable growth.
According to him, the return to profitability was driven by stronger revenue generation, improved finance income, disciplined cost management and a continued focus on operational excellence.
Nuru said these priorities would remain central to the company's business strategy as it seeks to consolidate its gains and expand shareholder value.
"The board remains focused on improving the quality, sustainability and scalability of earnings while maintaining prudent financial management," Nuru said.
He noted that although the return to profitability marked a significant milestone for the company, management viewed it as only the beginning of a broader journey towards consistent value creation and long-term financial stability.
Providing an overview of the company's financial performance, the chairman disclosed that Tantalizers recorded a net profit after tax of N73 million in the 2025 financial year, ending a prolonged period of losses after posting a net loss of N265.59 million in 2024.
The company also reported a turnover of N2.90 billion during the review period, with gross profit standing at N463.78 million, while profit before tax closed at N83.70 million.
Beyond its core operations, Nuru highlighted the progress recorded by the company's subsidiary, Tantalizers Fisheries Limited, stating that it had made significant strides in infrastructure development and organisational capacity, positioning the business to compete effectively and support future expansion.
Shareholders at the meeting unanimously approved all resolutions presented by the board, including the appointment of Mr. Akintade Ogidan as a director.
They also endorsed the re-election of Mrs. Abosede Ayeni as a Non-Executive Director, Mr. Bamidele Oke as an Executive Director and Dr. Israel Ovirih as a Non-Executive Director, expressing confidence that the leadership team would continue to drive the company's growth strategy and strengthen its financial performance in the years ahead.