Legend Internet Plc has announced that Agusto & Co. Limited, the company’s appointed rating agency, has assigned a Bbb- long-term rating and an A3 short-term rating following an assessment.
The company disclosed this in a statement filed with the Nigerian Exchange (NGX) on the 14th of October 2025, addressed to shareholders and the investing public.
According to Legend Internet, the ratings reflect its satisfactory financial condition, solid operational performance, and strong capacity to meet financial obligations as they fall due.
The company added, “We remain committed to upholding the highest standards of transparency and corporate governance and will continue to keep shareholders and the investing public informed of significant developments relating to the company.”
Following a modest 2025 financial year, the Bbb long-term rating reflects the company’s capacity to meet its long-term obligations, while the A3 short-term rating indicates its ability to fulfill short-term payment commitments.
Performance
Legend Internet released its financial results for the year ended July 31, 2025, reporting a profit after tax of N172.6 million, marking a 44.5% increase from N119.4 million in 2024.
The company’s revenue remained steady at N1.19 billion, up slightly from N1.13 billion the previous year, with its fiber business driving growth, contributing N1.12 billion.
- Wholesale bandwidth added N37.6 million, Legend WiFi generated N22.2 million, and other services made up the remainder.
Efficient cost management supported top-line profitability, as sales expenses fell 6.8% to N429.6 million from N461 million. However, these gains were offset by rising overheads.
- Administrative expenses surged 52.4% to N560.1 million from N367.6 million, primarily due to higher staff costs and depreciation.
As a result, operating profit declined to N201.2 million from N309.8 million in 2024.
After finance costs of N28.5 million, profit before tax stood at N172.6 million, compared to N285 million a year earlier.
- With no tax charges for the year, net profit still rose 44.5% to N172.6 million.
On the balance sheet, total assets increased 10.3% to N3.3 billion, while retained earnings grew to N734.5 million from N561.9 million in 2024, reflecting the company’s solid financial position.
What to know
- Legend Internet Plc is a Nigerian digital services provider offering broadband via fiber optics, digital payments through its Legend Pay platform, and other digital products such as secure email.
- Founded in 2021 and based in Abuja, the company is expanding its fiber-to-the-home network across Nigeria.
- It listed on the Nigerian Exchange (NGX) in April 2025 under the ticker LEGENDINT.
