Secure Electronic Technology Plc (SET Plc); formerly National Sports Lottery was incorporated in 2001 with an Exclusive 30-year license granted by the Federal Government to operate the National Lottery in Nigeria. The operation of the National Lottery is governed by the National Lotteries Act 2005. SET Plc is a technology-focussed organisation, with its core competence in the provision of infrastructure and technical know–how in the following: Lottery and Gaming, Trivia Promo syndication, Provision of a central data base for data and information processing. They are the foremost rtime online gaming platform in Nigeria, holder of the first National Lottery Liceal- ence backed by Statute.
The company that engages in airtime vending released its audited financial result for the year ended 31 December 2018. The result showed that company declined in its topline figures by 34.32% to arrive at N4.3 billion below the previous close of N6.5 billion in the previous year.
The Profit/loss after Tax, dropped significantly by 342.86% to stand at N(152.1) million in contrast to the previous close of N62.6 million in FY’17.
The company’s EPS declined by 342.86% to close at N(0.03) from N0.01 recorded in 2017.
At a reference stock price of N0.20, it traded on 22nd March 2019, the company’s PE Ratio is -7.40x with earnings yield of -13.51%.