Legend Internet Generates N4.14bn Asset as Cost Pressures Weigh on Profit

Legend Internet Plc experienced a 29% increase in total assets, reaching N4.14 billion, during the 12 months leading up to July 31, 2026. This growth was primarily driven by significant expansion in current assets, which rose to N1.65 billion from N597.8 million. Despite a decline in revenue, the company maintained a substantial gross profit position, with gross profit at N714 million, reflecting a gross margin of around 65%.

The strong infrastructure base, valued at N2.47 billion, was bolstered by further investment of N49.6 million in property, plant, and equipment. Financing activities yielded a net cash inflow of N1.07 billion, partially offset by loan repayments. However, the company reported a net profit of N13.2 million, down from N142.5 million the previous year, due to increased infrastructure acquisition costs, administrative expenses, and financing pressures.

The balance sheet growth offers the company additional capacity to support near-term growth initiatives, but effective debt and financing-cost management will be crucial as Legend Internet scales. Analysts are optimistic that the increased asset and financing base could translate into stronger revenue growth and improved earnings.