FY 2019: Tantalizer Plc posts 74.2% reduction in profit after tax

Tantalizers Plc has released its financial statements for the year ended 2019. The financial statement demonstrates poor performance across most financial indicators. The breakdown of the report is shown below:

Revenue: Tantalizers Plc generated N1.2 billion in revenue as at December 2019, compared to N1.5 billion recorded at the end of the 12 month period of 2018. This represents a reduction in revenue of 17%.

Gross Profit: As at December 2019, the firm recorded N534.9 million in gross profit, down from N629.4 million recorded at the end of December 2018, representing another reduction in revenue of 15%.

Profit Before Tax: As at the fourth quarter of December 2019, the fast-food company recorded N33.4 million as profit before tax, down from N96 million recorded by the firm as profit before tax at the end of December 2018. This represents a decline of 65.1%.

Profit After Tax: Tantalizers Plc recorded a profit after tax of N22.1 million for the 12-month period of 2019, lower than the N86.2 million profit after tax recorded at the end of December 2018, representing a 74.2% reduction in profit after tax.

Earnings Per Share: The group's Earnings Per Share stood at 1kobo for full-year 2019 compared to 3 kobo recorded at the end of December 2018.