Legend Internet Reports N416.15M Loss for Nine Months

Legend Internet Plc declared a loss of N416.15 million for the nine months ended April 30, 2026, contrasting with a profit of N221.1 million for the same period in 2025. The company's revenue fell to N817.07 million, a 15.09% decrease from N962.23 million in 2025.

Administrative expenses rose significantly, increasing by 142.1% from N364.13 million in 2025 to N881.4 million in 2026. Despite these losses, gross profit was substantial at N531.1 million, down nearly 18% from N645.1 million in the previous year.

Legend Internet also reported a payment of N1.3 billion for acquiring a subsidiary and placed N5.52 billion in escrow while securing N6.88 billion in loan financing, indicating an aggressive expansion strategy. The company’s infrastructure, valued at approximately N2.54 billion, supports its growth potential.

CEO Aisha Abdulaziz stated that the company aims to leverage its investments for improved financial performance and sustainable growth.