Briclinks Africa’s Profit Jumps 22%, but N7.2bn Debt Towers over N127m Equity

Briclinks Africa Plc’s profit before tax rose 22.2 per cent to N17.52m in the second quarter of 2026, from N14.34m in the preceding quarter, according to its financial statements for the period ended June 30, 2026.

The internet service provider’s turnover also increased 21.5 per cent to N163.89m, from N134.89m in the first quarter, reflecting higher revenue during the period.

However, cost of sales grew faster than revenue, rising 28 per cent to N107.86m from N84.28m. Gross profit consequently increased by 10.7 per cent to N56.03m.

The company’s balance sheet remains heavily leveraged, with N7.22bn in long-term loans at June 30, compared with shareholders’ equity of N127.17m. Total liabilities stood at N7.86bn.

Briclinks nevertheless repaid N32.08m in loans during the quarter, compared with N25m in the preceding quarter, indicating continued debt repayment.

Operating cash flow also improved to N33.94m from N23.19m, while cash and cash equivalents increased from N2.12m to N3.98m.

Despite the improvement, liquidity remained tight. Current assets stood at N7.37m, against current liabilities of N9.8m, while the working-capital ratio improved to 0.75 from 0.70.

Briclinks also held N6.27bn in intangible assets, accounting for about 78.5 per cent of its N7.99bn total assets. The results point to stronger earnings and cashgeneration, but also highlight the company’s substantial debt and balance-sheet challenges.