Legend Internet Plc has announced that Agusto & Co., its rating agency, has assigned it a BBB– long‑term rating and an A3 short‑term rating. The firm announced the ratings in a statement to the Nigerian Exchange on October 14, 2025.
According to Legend Internet, these ratings reflect its stable financial health, dependable operations, and ability to meet both long‑ and short‑term obligations as they come due.
Financial Performance & Highlights:
For the fiscal year ending July 31, 2025, Legend Internet reported a profit after tax of ₦172.6 million, up 44.5% from ₦119.4 million in 2024. Revenue edged up to ₦1.19 billion (from ₦1.13 billion), with the fiber segment contributing ₦1.12 billion.
Breaking down revenue sources:
Wholesale bandwidth: ₦37.6 million
Legend WiFi: ₦22.2 million
On the balance sheet side:
Legend also managed to cut sales expenses by 6.8%, from ₦461 million to ₦429.6 million. However, this was offset by a 52.4% rise in administrative costs (from ₦367.6 million to ₦560.1 million), driven largely by staffing and depreciation.
As a result, operating profit fell from ₦309.8 million to ₦201.2 million. After accounting for finance costs of ₦28.5 million, profit before tax stood at ₦172.6 million (no tax was charged).
Company Profile & Outlook:
Total assets rose by 10.3% to ₦3.3 billion
Retained earnings grew from ₦561.9 million to ₦734.5 million
Legend Internet offers broadband via fiber optics, digital payment services through its Legend Pay platform, and other digital solutions like secure email. Founded in 2021 and headquartered in Abuja, the company is rolling out a fiber‑to‑home network across Nigeria. It was listed on the Nigerian Exchange in April 2025 under the ticker LEGENDINT.
Legend says it remains committed to transparency and good governance, pledging to keep shareholders and the public updated on key developments.
