Netlink NBN Trust records a 4.0% YoY higher profit of $85.1m in 9M24

The REIT attributed its improved profit to higher revenue.

Netlink NBN Trust’s profit after tax (PAT) climbed 4.0% YoY to $85.1m in 9M24.

In a bourse filing, the Netlink NBN attributed its improved PAT to higher revenue.

In 9M24, the company recorded a revenue of $309.4m, 3.2% higher than the 9M23 record.

“Revenue for 9M24 increased by $9.6 million as compared to 9M23 mainly due to higher connection revenue across all segments and higher installation-related revenue,” Netlink NBN said.

“There were 1,501,032 residential connections and 6,317 NBAP and Segment connections as of 31 December 2023, as compared to 1,480,682 residential connections and 5,233 NBAP and Segment connections as of 31 December 2022,” the company added.

Higher revenue, however, was partially offset by higher operating costs.