Bricklinks Africa, an Internet Service Provider, has reported a 9.82 per cent decline in its revenue for the financial year ended December 2023.
According to the financial statements for the year ended December 31, 2023, filed with the Nigerian Exchange Limited on Monday, the ISP’s turnover dropped to N96.770m from N107.312m in 2022.
During the period under review, the gross profit also dropped to N38.629m from N39.087m.
However, its profit for the period rose by 30.28 per cent to N17.718m boosted by profit brought forward of N13.600m from 2022.
Briclinks Africa in August unveiled new investment plans that will boost its capital base to N500m, and raise revenue to N78.12bn from one million subscribers in the next three years.
The Managing Director/Chief Executive Officer of the firm, Mohammed Buhari, revealed this at the last Annual General Meeting held in Abuja.
He told the shareholders that it was targeting to become regional leaders in bridging the gap between the diaspora and home country through affordable and quality communications 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 launched in 2015, got its Internet Service Provider licence in 2018, and commenced operation the same year by setting up the infrastructure to provide fixed wireless broadband services in Abuja, Akwa Ibom and Lagos States.
