Internet Service Provider, Bricklinks Africa, has reported a 9.82 per cent revenue decline for the fiscal year ending December 2023.
The PUNCH reported that according to the financial statements for the fiscal year ending December 31, 2023, filed with the Nigerian Exchange Limited on Monday, the ISP’s turnover decreased to N96.770m from N107.312m in 2022.
During the review period, gross profit fell from N39.087m to N38.629m.
However, its profit for the period increased by 30.28 per cent to N17.718 million, buoyed by a profit carried forward of N13.600 million from 2022.
Briclinks Africa launched new investment plans in August, aiming to increase its capital base to N500 million and income to N78.12 billion from one million users over the next three years.
The firm’s Managing Director/Chief Executive Officer, Mohammed Buhari, stated this at the latest Annual General Meeting in Abuja.
He informed the shareholders that the company aimed to become regional leaders in bridging the diaspora-home country gap through economical and high-quality communication solutions.
“To become a world-class institution that is a leader in rendering innovative and affordable voice calls, as well as make mobile internet an integral part of middle-class Nigerian home and businesses.” he said.
Bricklinks Africa was founded in 2015, received its Internet Service Provider licence in 2018, and began operations the same year by establishing the infrastructure to deliver fixed wireless broadband services in Abuja, Akwa Ibom, and Lagos states.
