Tantalizers plc is reporting a 27% increase in its net losses to NGN196.6 million for the second quarter of 2017 compared to NGN153.8 million net loss reported within the same period in the financial year 2016.
The Eatery ended the period with lower revenue of NGN435.0 million compared to NGN502.6 million recorded in the previous year while gross profit was NGN162.5 million against NGN206.4 million in the year 2016.
Tantalizers plc said its total asset at the end of the period was NGN721.1 million total assets for the period in review in contrast to NGN459.4 million in the previous year while total liabilities was NGN3.6 billion against NGN3.0 billion in 2016.
The company will need an additional source of borrowing or funding to ensure it remains a going concern.
