WorldStage– Legend Internet Plc has released its unaudited management financial report for the full year ended July 31, 2026, recording a Profit After Tax of ₦13.2 million. This represents a significant decline from the ₦142.5 million profit after tax reported in the previous financial year (FY 2025).
Revenue & Earnings Performance The broadband and internet service provider generated total revenue of ₦1.10 billion for the 12-month period, down 7.4% from the ₦1.19 billion achieved in FY 2025.
Fiber Services Lead Revenue: Legend Fiber remained the primary revenue driver, contributing ₦930.2 million.
Wholesale Growth: Wholesale Bandwidth segment recorded substantial growth, rising to ₦162.6 million compared to ₦37.7 million in the prior year.
Gross Profit: Cost of sales fell from ₦429.6 million to ₦388.5 million, allowing the company to maintain a gross profit of ₦714.0 million.
Cost Pressures and Financing Costs The contraction in net profit was driven largely by sharp increases in operating costs and debt servicing expenses:
Administrative Expenses: Administrative costs surged by 88.9% to ₦1.06 billion, up from ₦560.2 million in FY 2025. This was primarily driven by professional fees totaling ₦355.3 million and personnel costs of ₦261.8 million.
Finance Costs: Financing costs jumped to ₦314.7 million from ₦28.6 million in the previous year, impacted by short-term bridge financing structures.
Balance Sheet & Free Float Compliance Legend Internet Plc’s total assets stood at ₦4.14 billion as of July 31, 2026, up from ₦3.21 billion in FY 2025. Total equity ended the year at ₦2.76 billion.
In a regulatory declaration included in the report, the company confirmed that its free float status as of July 31, 2026, reached 27.24% in value (544.7 million units), bringing it into full compliance with Nigerian Exchange (NGX) Main Board listing requirements.
