- Although performance of NetLink Trust's share price remains lacklustre as investors wait for the result of the regulatory review (likely to be announced before end-2023), we continue to see NetLink Trust as a defensive shelter amid macro uncertainty, given its strong earnings visibility and stability.
- - Read this at SGinvestors.io -
NBAP & segment contributed to topline growth
- NetLink Trust's 1H24 revenue increased 2.9% y-o-y due to higher contributions from residential (+0.23% y-o-y), NBAP & segment connections revenue (+17.6% y-o-y), non-residential (+2.2% y-o-y), installation (14.6% y-o-y) and Central Office (CO) (+7.5% y-o-y) revenue. This was partially offset by a slight drop in ducts & manholes revenue (-6.0% y-o-y) and ancillary project revenue (-7.1% y-o-y).
- - Read this at SGinvestors.io -
- At end-Sep 2023, there was stable growth across all fibre connections with 1.492m (+1.3% y-o-y) residential, 52.6k (+1.9% y-o-y) non-residential, 2.82m (+10.4% y-o-y) NBAP and 3.22m (+38.4% y-o-y) connections completed.
Awaiting IMDA regulatory review of ICO prices
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://maybanktrade.com.sg/.
Kelvin Tan Maybank Research | https://www.maybank-ke.com.sg/ 2023-11-06
Previous report by Maybank:
2023-08-18 NetLink NBN Trust - Defensive With Attractive Yield.
Price targets by 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
