CGS-CIMB analysts Ong Khang Chuen and Darren Ong have kept “add” on Netlink NBN Trust with an unchanged target price of $1.10 after the trust’s results for the 1QFY2022 ended June stood in line with their expectations.

During the quarter, Netlink NBN Trust saw revenue increase by 5.0% y-o-y to $93.4 million. Profit after tax (PAT) and EBITDA stood 1.1% and 5.3% higher y-o-y at $24.8 million and $69.5 million respectively.

Netlink NBN Trust also continued to see growth in all three types of fibre connections, something which both analysts expect to remain in FY2022.

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