Legend Internet Reports 44.5% Surge In 2025 Net Profit

Legend Internet Plc has reported profit after tax growth of 44.53 per cent for its July 31, 2025, financial year.

The company’s 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 fibre business contributing N1.12 billion.

Wholesale bandwidth added N37.6 million, Legend WiFi brought in N22.2 million, and other services filled 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 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 listed two billion ordinary shares at N5.64 per share by way of introduction on the Main Board of Nigerian Exchange Limited (NGX) in April 2025.

Legend Internet chairman 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 catalyses growth, innovation, and national economic transformation.”

Also, Legend Internet’s chief executive officer, 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. Going public enables more Nigerians to be part of our journey and share in the value we are creating. This is not just a corporate win but a signal of what is possible in Nigeria’s tech ecosystem.”