Netlink NBN Trust CJLU % has reported a profit after tax of $81.8 million for the 9MFY2023 ended Dec 31, 2022, 24.2% higher than the $65.8 million in the same period the year before.
In its business update, the trust saw 9MFY2023 revenue increase by 6.5% y-o-y to $299.8 million. This was due to its higher ancillary project revenue, non-building address point (NBAP) & segment connections revenue and residential connections revenue and partly offset by lower revenue from its central office segment.
Ebitda for the period increased by 11.7% y-o-y to $219.8 million. The higher ebitda and profit after tax was also attributable to the $12.4 million remeasurement loss recorded from the remeasurement of finance lease receivables due to the change in rental rates upon the renewal of the central office lease agreements in the 9MFY2022.
On a like-for-like basis, 9MFY2023 ebida would have been 5% higher y-o-y due to the higher revenue.
As at Dec 31, 2022, the trust had 1.48 million residential connections and 5,233 NBAP and segment connections, which was 1.56% and 32.1% y-o-y higher respectively.
Shares in Netlink closed flat at 85.5 cents on Feb 13.