Legend Internet PLC Reports Quarterly Loss Due to Rising Costs and Declining Revenue
Legend Internet PLC, a Nigerian internet service provider based in Abuja, swung to a loss of N14.8 million for the period ending October 31, 2025. The company faced higher operating expenses and a 17% decrease in revenue, mainly driven by a drop in Legend Fiber sales.
This decline in revenue resulted in a net loss compared to a profit of N94.5 million in the previous year. The company's financial statement also showed a decrease in shareholder funds, tight cash reserves, and a negative net cash position.
Despite some revenue contributions from other sources, Legend Internet PLC struggled with weakening financial performance.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
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