NetLink posts net profit of S$12.9m, nearly 5% higher than forecast

NETLINK NBN Trust on Thursday posted a profit attributable to unitholders of S$12.99 million for the quarter ended Sept 30, 4.9 per cent higher than its forecast of S$12.4 million.

Revenue was S$64.8 million, which was 1.2 per cent lower than the forecasted S$65.5 million. NetLink said that this was due mainly to lower installation revenue from a decrease in demand for installation of termination points in residential homes. "The rate of migration by non-fibre subscribers to fibre was slower than expected," NetLink added.

Earnings per share came up to 0.33 Singapore cent. No dividends have been declared for the period.

NetLink listed on the Singapore Exchange main board on July 19, thus no year-on-year comparative figures were provided.

NetLink shares closed flat at S$0.825 on Thursday.