Legend Internet Reports Earnings Decline Amid Expansion

Legend Internet PLC announced its unaudited results for the six months ending January 2026, revealing a negative earnings position of N99.34 million, a decline compared to a profit in the same period the previous year. CEO Aisha Abdulaziz reassured stakeholders of the company's focus on long-term growth and operational sustainability, despite the current earnings pressure attributed to aggressive expansion strategies.

Revenue for the period stood at N220.55 million, supported by contributions from fiber wholesale bandwidth services and customer premises equipment sales. The company’s capital expenditure rose to N3.25 billion from N3.20 billion in July 2025, reflecting ongoing investments in network infrastructure.

Despite short-term profit pressures, Legend Internet's liquidity improved significantly, with cash and cash equivalents rising to N165.5 million from a negative position of N28.3 million previously. The company's total equity grew to N2.84 billion as of July 2025, underscoring the strength of its balance sheet.