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Netlink NBN Trust reports 12.4% growth in 1Q21 profit after tax to $23.5 mil in business update

Felicia Tan
Felicia Tan8/5/2020 06:27 PM GMT+08  • 2 min read
Netlink NBN Trust reports 12.4% growth in 1Q21 profit after tax to $23.5 mil in business update
Looking ahead, Netlink NBN Trust says the reduced availability of contractors’ resources has affected its capacity to fulfil service requests, although the delay is not expected to have any negative effects in the long-term.
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The manager of Netlink NBN Trust has reported a 12.4% growth in profit after tax (PAT) of $23.5 million for 1Q21 ended June, from $20.9 million a year ago.

Revenue for the period fell 3.3% y-o-y to $89.0 million, mainly due to the lower installation-related revenue and diversion revenue, which were affected by the pandemic. The lower revenue was offset by higher revenue from higher residential connections.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 3.4% y-o-y to $68.8 million, and EBITDA margin rose 5.0 percentage points to 77.3% primarily attributable to the higher proportion of revenue from residential connections and from the government relief grants.

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