- Driven by higher revenue contributions across most business segments, NetLink's FY23 net profit (+19.7% y-o-y) came in within our expectations, forming 101% of our full-year forecasts.
- The next regulatory review, which we believe may be on an uptrend, is expected to be completed by 2QFY24 (Sep 2023) and implemented by 4QFY24 (Mar 2024).
- - Read this at SGinvestors.io -
FY23: Robust results and increased dividend.
- For FY23, NetLink NBN Trust (SGX:CJLU) reported higher revenue (+6.8% y-o-y) and net profit (+19.7% y-o-y), both forming 101% of our full-year forecasts and in line with expectations. The steady top-line growth was driven by higher broad-based revenue growth across most segments, offset by lower Central Office and manholes services revenue.
- - Read this at SGinvestors.io -
- NetLink declared a 2HFY23 final dividend of 2.62 cents/unit (2HFY22: 2.57 cents), taking total FY23 dividends to 5.24 cents (FY22: 5.13 cents) and implying a FY23 dividend yield of around 5.8%, in line with our expectations.
Effects from higher interest rates.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Chong Lee Len UOB Kay Hian Research | Llelleythan Tan Yi Rong UOB Kay Hian | https://research.uobkayhian.com/ 2023-05-22
Previous report by UOB:
2023-03-20 NetLink NBN Trust - A Potentially Higher Rate Due To Rising Rates & Costs, Upgrade To BUY.
Price targets by 4 other brokers at NetLink Trust Target Prices.
Listing of research reports at NetLink Trust Analyst Reports.
Relevant links:
NetLink Trust Share Price History,
NetLink Trust Announcements,
NetLink Trust Dividends & Corporate Actions,
NetLink Trust News Articles
