LEGEND INTERNET SWINGS TO LOSS AS EXPENSES SURGE

Legend Internet Plc has swung into a loss as rising operating expenses put pressure on the company’s financial performance.

The company’s latest results show that higher costs have affected profitability despite continued activity across its internet and telecommunications operations.

The increase in expenses reflects the broader cost pressures facing businesses in Nigeria, including higher energy, infrastructure, maintenance, financing, and operational costs.

Industry analysts said rising expenses remain a major challenge for telecommunications and internet service providers, particularly as operators invest heavily in infrastructure to meet growing demand for connectivity.

Legend Internet has continued to focus on providing internet services while navigating a competitive market and changing operating conditions.

Analysts said improving cost efficiency and increasing revenue would be important for the company to return to profitability.

They noted that stronger customer growth, better infrastructure utilisation, and investment in technology could help improve the company’s financial position.

The development also highlights the broader challenges facing Nigeria’s digital infrastructure providers as they balance the need for continued investment with rising operating costs.

Industry stakeholders called for policies that would reduce the cost of deploying and maintaining telecommunications infrastructure.

They also urged operators to explore more efficient technologies and business models to manage expenses while maintaining service quality.

Legend Internet is expected to focus on cost management and revenue growth as it works to improve its financial performance.

Analysts said a sustained recovery would depend on the company’s ability to control expenses, strengthen its customer base, and take advantage of Nigeria’s growing demand for reliable internet connectivity.