Netlink NBN Trust reports 9MFY2023 profit after tax of $81.8 mil, 24.2% higher y-o-y
In its business update, the trust saw 9MFY2023 revenue increase by 6.5% y-o-y to $299.8 million.
Netlink NBN Trust CJLU
has reported a profit after tax of $81.8 million for the 9MFY2023 ended Dec 31, 2022, 24.2% higher than the $65.8 million in the same period the year before.
In its business update, the trust saw 9MFY2023 revenue increase by 6.5% y-o-y to $299.8 million. This was due to its higher ancillary project revenue, non-building address point (NBAP) & segment connections revenue and residential connections revenue and partly offset by lower revenue from its central office segment.
Ebitda for the period increased by 11.7% y-o-y to $219.8 million. The higher ebitda and profit after tax was also attributable to the $12.4 million remeasurement loss recorded from the remeasurement of finance lease receivables due to the change in rental rates upon the renewal of the central office lease agreements in the 9MFY2022.
On a like-for-like basis, 9MFY2023 ebida would have been 5% higher y-o-y due to the higher revenue.
As at Dec 31, 2022, the trust had 1.48 million residential connections and 5,233 NBAP and segment connections, which was 1.56% and 32.1% y-o-y higher respectively.
Shares in Netlink closed flat at 85.5 cents on Feb 13.
See Also:
Click here to stay updated with the Latest Business & Investment News in Singapore
Japan Foods reports 94.5% y-o-y surge in 9MFY2023 net profit of $3.2 mil
Analysts mixed on Netlink after its 1HFY2023 revenue beats consensus' estimates
Get in-depth insights from our expert contributors, and dive into financial and economic trends