TANTALIZERS TANTALISES WITH ASSETS REVIEW

Tantlizers PLC revalued its assets in the nine months to September and ended up saving shareholders fund from being reduced by continued, even if lower, loss.
According to the figures released by the company recently, revaluation of assets resulted in a surplus of N763.8m which was more than enough to save shareholders fund from dropping.
Tantalizers had reported a loss of N462.4m within the period, far lower than the N771.6m recorded in full year 2014.
On its own and given accumulated revenue losses from the past, this would have depressed shareholders fund from the N1787.8m it closed 2014 year.
Instead. Tantalizers shareholders fund increased to N2089.4m by September. Unfortunately, that may not be the closing figure come 2015 financial year since the company looks set to record more losses.
For one, its liquidity base remains very shaky as working capital deficit widened  to N1835.3m from N1753.1m and it depended more on overdraft and less on long term loans being repaid gradually and most likely to schedule.
The finance cost by September was N154.7m compared to N195.1m for the whole of 2014 year. But helpful was the fact that income from other sources at N288.1m was already ahead of N234.7m for 2014 year.
However, inspite of the lower loss, actual loss per each N100 income went up to N25.9 from year 2014's N18.3.
This was because nine months into the current year only N1785.3m total income had been recorded as against N3154.4m for all of 2014.
SO:
* Will Tantalizers chip in more income in the last quarter? May be since that's the quarter of yuletide.
* Also, it may benefit from the recent cut in interest rates by the CBN but, well, all of that may reduce total loss but may not lift Tantalizers from the loss league this year.

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