Legend Web Plc has introduced that its shareholders have authorized plans to lift as much as N150 billion in extra capital on the firm’s 2nd Annual Basic Assembly held in Abuja on seventh November 2025.
The corporate had earlier introduced plans to lift capital via a mixture of debt and fairness to fund its nationwide growth, following its April 2025 itemizing on the Nigerian Trade (NGX)
In a latest disclosure filed on eleventh November, following the assembly, the board acknowledged that shareholders additionally authorized a decision to extend the corporate’s share capital by as much as 10 billion odd shares, rating pari passu with the present shares.
On the assembly, shareholders additionally authorized proposals for the acquisition of a licensed Microfinance Bank and a licensed Telecommunications and Web Service Supplier working in Nigeria.
Legend Web additionally introduced its audited monetary statements for the yr ended July 31, 2025, together with the studies of the administrators, auditors, and audit committee.
For the monetary yr, the corporate reported a revenue after tax of N172.6 million, representing a 44.5% improve from N119.4 million within the earlier yr.
Drivers
Legend’s sturdy top-line efficiency drove its profitability for the monetary yr, with income holding regular at N1.19 billion, barely up from N1.13 billion the earlier yr.
- The corporate’s fiber enterprise accounted for many of the progress, contributing N1.12 billion.
- Wholesale Bandwidth added N37.6 million, Legend WiFi introduced in N22.2 million, with different companies making up the steadiness.
Value administration helped help earnings, as gross sales bills fell 6.8% to N429.6 million from N461 million, permitting gross revenue to rise to N761.4 million, up from N677.4 million in 2024.
Nonetheless, these features had been partly offset by rising administrative bills, which jumped 52.3% to N560.1 million from N367.6 million, pushed by increased employees prices and depreciation.
- This pushed working revenue all the way down to N201.2 million from N309.8 million a yr earlier.
After accounting for finance prices of N28.5 million, revenue earlier than tax stood at N172.6 million, under the N285 million posted in 2024.
With no tax prices for the yr, internet revenue grew 44.5% to N172.6 million, in comparison with N119.4 million within the prior yr.
On the steadiness sheet, complete belongings rose 10.3% to N3.3 billion, whereas retained earnings elevated to N734.5 million from N561.9 million in 2024.
What you need to know
Legend Web offers excessive‑velocity web by way of Legend Fibre (FTTH) and Legend Wi‑Fi (public networks).
- The corporate listed on the NGX as LEGENDINT at N6.20 on April 24, 2025.
- In early Could (after itemizing), the corporate launched FTTR by Legend — Nigeria’s first Fibre‑to‑the‑Room service to spice up in‑residence and enterprise speeds.
- In October, Agusto & Co. assigned the corporate a Bbb‑ (lengthy‑time period) ranking and A3 (brief‑time period) ranking.
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