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Secure Electronic Technology Q1 profit falls YOY

4988671 said its first-quarter normalized net income came to 13.1 million nairas, a decline of 7.3% from 14.2 million nairas in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.7% from 0.8% in the year-earlier period.

Total revenue climbed 6.8% on an annual basis to 1.90 billion nairas from 1.78 billion nairas, and total operating expenses rose 6.9% from the prior-year period to 1.88 billion nairas from 1.76 billion nairas.

eported net income decreased 7.3% on an annual b Secure Electronic Technology PLC