- NetLink NBN Trust (SGX:CJLU)’s 2HFY24 revenue grew 1.0% y-o-y to S$206.0m, mainly driven by higher connections, installation-related, and other revenue. This was, however, partially offset by lower ancillary project revenue.
In-line set of results
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- A final dividend of S$0.0265 per share was declared, up 1.1% y-o-y. This brings the total NetLink Trust's distribution for FY24 to S$0.0530 (+1.1% y-o-y).
Fibre connections across key segments continued to grow
- Fibre connections across NetLink’s key segments continued to grow in FY24, with residential/non-residential/non-building address points (NBAP)/segment connections growing 2%/3%/10%/25% y-o-y.
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- Residential connections remained stable and the key contributor, with its revenue growing 1.3% y-o-y in FY24, contributing to 60% of total revenue.
Attractive dividend yield of ~6%
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