Secure Electronic Technology Plc operator of the National Sports Lottery brand, posted a narrower net loss of N32.166 million for the six months ending 30 June 2026, down from N74.863 million in the same period of 2025, according to the company’s unaudited half-year financial statements.
Gross income was N1.95 billion, slightly below N2.02 billion in H1 2025.
Prizes and winning payouts rose to N1.14 billion from N1.03 billion, while ticket costs decreased to N703.3 million from N794.9 million, resulting in a gross profit of N110.8 million, compared to N184.9 million previously.
The company’s operating loss for the period was N31.3 million, an improvement on the N51.3 million operating loss posted in H1 2025.
Total assets stood at N4.42 billion as at 30 June 2026, down marginally from N4.45 billion at the end of December 2025, while total equity closed at N3.56 billion.
Cash and bank balances rose to N61.9 million from N20.5 million at year-end 2025. Basic loss per share for the half year was 0.57 kobo, compared with 1.33 kobo in the prior-year period.
Dr Odunlami Kola-Daisi resigned as Chairman; Mrs Nwadiuto Iheakanwa was appointed as the new Chairman, and Mr Akin Areola as Vice Chairman.
Shares closed unchanged at N0.20. The company’s free float was 31.07%, maintaining compliance with Nigerian Exchange requirements.
Major shareholders include Strand Capital Partners, Nujuum Ventures, and Securities & Capital Management.
Administrator and Writer
