- Despite higher y-o-y revenue and EBITDA, NetLink Trust's 1HFY24 PATMI (-3.1% y-o-y) was just below our expectations, dragged by higher finance costs, and accounted for 44% of our full-year forecasts.
- - Read this at SGinvestors.io -
- Maintain BUY with a lower target price of S$1.01.
1HFY24: Stable results. In line with expectations.
- NetLink NBN Trust (SGX:CJLU) reported higher revenue (+2.9% y-o-y) and EBITDA (+2.4% y-o-y), each accounting for 49% of our full-year forecasts and driven by higher connections revenue across all segments.
- - Read this at SGinvestors.io -
- For 2QFY24, revenue was slightly lower (-0.3% y-o-y, -2.5% q-o-q), largely due to lower ancillary project and co-location revenue. Similar to 1HFY24, 2QFY24 PATMI also softened (-8.4% y-o-y, -12.7% q-o-q) from higher finance costs.
Higher dividend.
- 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/ 2023-11-07
Read also UOB's most recent report:
2023-11-28 NetLink NBN Trust - IMDA Review Completed With Minor Impact; Expected to Start in FY25.
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
