Kayode Tokede
Legend Internet Plc has reported profit after tax growth of 44.53 per cent for its financial year ended July 31, 2025.
The company unaudited results showed that, profit after tax grew to N172.6 million from the N119.4 million it recorded in 2024. The company’s revenue stood at N1.19 billion, up slightly from N1.13 billion in the previous year, with its fiber business doing most of the heavy lifting by contributing N1.12 billion.
Wholesale bandwidth added N37.6 million, Legend WiFi brought in N22.2 million, with other services filling in the balance. Cost management gave top-line profits a boost, as sales expenses dropped 6.80 per cent to N429.6 million from N461 million. Gross profit rose to N761.4 million as against N677.4 million in the previous year.
On the balance sheet side, total assets rose 10.33 per cent to N3.3 billion, while retained earnings grew to N734.5 million from N561.9 million in 2024.
Legend Internet in April, 2025 listed two billion ordinary shares at N5.64 per share by way of introduction on the Main Board of Nigerian Exchange Limited (NGX).
The chairman of Legend Internet, Ladi Bada stated that, “technology is the fastest-growing sector, and broadband sits at the core of digital transformation.
“Legend Internet is proud to be the first indigenous broadband company listed on the Exchange. Our decision to list is anchored in our belief that the capital market is a catalyst for growth, innovation, and national economic transformation.”
Also, the Chief Executive Officer of Legend Internet, Aisha Abdulaziz described the listing as a national moment, saying, “we are building Africa’s most customer-focused internet company powered by world-class infrastructure and made-in-Nigeria innovation.