- NetLink NBN Trust (SGX:CJLU)’s FY23 results were in-line with our expectations. Revenue grew 6.8% y-o-y to S$403.5m, on the back of higher revenue across its segments, except for Central Office (due to a reduction in rental space and rental rates) and ducts and manholes service revenue (due to lower cable length chargeable).
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- NetLink's FY23 EBITDA grew 10.5% y-o-y to S$295.0m, mainly due to higher revenue and lower staff and operating costs. Net profit rose 19.7% y-o-y to S$109.3m, which met our expectations. A final dividend of S$0.0262 per share was declared. This brings the total distribution for FY23 to S$0.0524 (+2.1% y-o-y). See NetLink's dividend date.
Fibre connections continued to grow across key segments
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IMDA pricing review is expected to be completed soon
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