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Tantalizers Makes N243 million Loss After Nine Months

By on November 7, 2012

Tantalizers

Quick Service Restaurant chain, Tantalizers has declared a loss of N243 million after nine months of trading in the present financial year.

Sales for the company over the nine month period were N3.17 billion, down 7.3% from the N3.42 billion it made over the same period last year.

Production costs saw a marginal increase of 1.1% to N1.79 billion reflecting increase in the economic cots of the factors of production such as petrol.

Profit before tax fell to -N201 million, a 577% decline as opposed to the N42.1 million it made over 3Q, 2011.

Net income was a loss of N243 million, representing a 947% decline from the N28.63 million it made in the same period last year.

The company’s cash balance fell 97% from N389 million at the end of September 2011 to N12.5 million at the end of last September.