The latest nine-month financial performance of Legend Internet Plc points to potential recovery prospects despite a decline in profitability. This is as the company said it combines a resilient gross margin with an aggressive expansion and investment drive.
“Legend Internet has the potential to translate its expansion investments into stronger financial performance. Our robust gross margin, substantial infrastructure base and ongoing expansion programme provide a solid foundation for recovery.
“We shall utilise the capital deployed to drive the scale, revenue growth and profitability needed to support our ongoing sustainable turnaround,” said Aisha Abdulaziz, Chief Executive Officer, Legend Internet Plc.
The company’s revenue declined by 15.1 percent to N871.1 million in the nine months ended April 30, 2026, from N962.2 million in the corresponding period of 2025. However, gross profit remained substantial at N531.1 million, translating to a gross margin of approximately 61 percent. This suggests that the core business continues to generate a healthy contribution before administrative and financing costs.
Administrative expenses rose by 142 percent to N881.4 million, from N364.1 million in the previous year, while the company’s operating profit of N281 million in 2025 turned into an operating loss of N350.3 million in the review period.
However, the substantial investments being made in acquisitions and infrastructure could provide a platform for stronger revenue and earnings performance if the expansion strategy delivers…
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Read Full Article by Iheanyi Nwachukwu at businessday.ng
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