Secure Electronic Technology Plc (NSLTECH) saw its share price plummet by 8.47% during early trading on Thursday, following the release of its 2024 earnings report. The lottery and gaming company’s stock dropped to 54 kobo after investors offloaded about 16.5 million shares valued at N8.962 billion.
The company’s market value fell by approximately 8.5% to N3.322 billion, reflecting investor concerns over its financial performance. Secure Electronic Technology reported a net loss of N121 million for 2024, a significant improvement from the N187.52 million loss recorded in 2023.
Market analysts attributed the selloff to profit-taking and weak market confidence following the earnings release. The company’s board of directors is scheduled to meet on Thursday, 20 March 2025, to consider and approve the audited financial statements for the year ended 31 December 2024, among other matters.
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