NetLink NBN profit climbs 19.7% YoY to $109.3m in FY23

Its 5.24 Singapore cents DPU is the highest the Trustee-Manager distributed since listing.

SGX-listed NetLink NBN Trust's profit after tax grew 19.7% year-on-year to $109.3m for the full fiscal year that ended on 31 March.

The trust's revenue rose 6.8% YoY to $403.5m from $377.6m due to higher income across all categories of services except the central office and the ducts and maintenance holes services.

Due to the growing revenue, lower staff costs, and operating expenses, its earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 10.5% YoY to $295m from $266.9m.

Meanwhile, its distribution per unit (DPU) climbed 2.1% YoY to 5.24 Singapore cents from 5.13 Singapore cents. Tong Yew Heng, NetLink NBN CEO, stated that the DPU for March is "the highest NetLink has distributed since listing."

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