Legend Internet Plc has published its results for the financial year ended July 31, 2025, reporting a profit after tax of N172.6 million, a 44.53% jump from the N119.4 million it recorded in 2024.
The company’s revenue held firm at N1.19 billion, up slightly from N1.13 billion in the previous year, with its fiber business doing most of the heavy lifting by contributing N1.12 billion.
- Wholesale bandwidth added N37.6 million, Legend WiFi brought in N22.2 million, with other services filling in the balance.
Cost management gave top-line profits a boost, as sales expenses dropped 6.80% to N429.6 million from N461 million.
- This created room for gross profit to climb to N761.4 million, up from N677.4 million in the previous year.
However, the gains were tempered by rising overheads. Administrative expenses spiked by 52.39% to N560.1 million from N367.6 million, driven by higher staff costs and depreciation.
- This dragged operating profit down to N201.2 million compared to N309.8 million a year earlier.
After finance costs of N28.5 million, profit before tax came in at N172.6 million, well below the N285 million posted in 2024.
Yet, with no tax charges for the year, net profit grew 44.53% to N172.6 million, compared to N119.4 million in the prior year.
On the balance sheet side, total assets rose 10.33% to N3.3 billion, while retained earnings grew to N734.5 million from N561.9 million in 2024.
Key Highlights (2025 vs 2024)
- Revenue: N1.19 billion (+4.62% YoY)
- Cost of Sales: N429.6 million (-6.80% YoY)
- Gross Profit: N761.4 million (+12.40% YoY)
- Administrative Expenses: N560.1 million (+52.39% YoY)
- Post-Tax Profit: N172.6 million (+44.53% YoY)
- Retained Earnings: N734.5 million (+30.73% YoY)
As of market close on August 26, 2025, the company’s shares were priced at N5.40.
