Legend Internet reports N416.15 million loss for nine months

Legend Internet Plc has reported a loss of N416.15 million for the nine-month period ending April 30, 2026. This marks a significant downturn compared to the N221.1 million profit recorded during the same period in 2025.

The company experienced a 15.09 per cent drop in revenue, which fell to N817.07 million from N962.23 million the previous year. This decline was compounded by a 142.1 per cent surge in administrative expenses, which rose to N881.4 million.

Despite the losses, the firm is pursuing an expansion strategy, having paid N1.3 billion for a subsidiary acquisition and placed N5.52 billion in escrow. The company also secured N6.88 billion in loan financing, which contributed to higher finance costs. Legend Internet maintains a substantial infrastructure base, with property, plant, and equipment valued at approximately N2.54 billion, primarily consisting of fibre infrastructure.