Legend Internet Plc's Profit Drops Amid Asset Growth

Legend Internet Plc reported its financial performance for the twelve months ending July 31, 2026, revealing a profit of N13.2 million, a significant decrease from N142.5 million in the previous year. The company's total assets rose by 29% to N4.14 billion from N3.21 billion, reflecting ongoing investments in infrastructure and improved access to financing.

However, increased infrastructure acquisition costs, administrative expenses, and financing-related pressures negatively impacted earnings. Revenue fell to N1.10 billion from N1.19 billion, while gross profit decreased to N714 million from N761.4 million, resulting in a gross margin of approximately 65%.

Legend Internet's current assets increased significantly, contributing to a stronger liquidity position. The company invested N49.6 million in property, plant, and equipment, maintaining a substantial infrastructure base valued at N2.47 billion.

Despite net cash inflow of N1.07 billion from financing activities, effective management of debt and financing costs will be crucial for future profitability and shareholder returns.