NetLink logs 12.4% rise in Q1 net profit despite labour constraints
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Singapore
FIBRE-OPTIC cable owner NetLink NBN Trust posted a 12.4 per cent increase in net profit to S$23.5 million for Q1 FY2021 ended June, even as its top line shrank with restricted manpower and access amid the Covid-19 pandemic.
The mainboard-listed trust's Q1 revenue dipped 3.3 per cent to S$89 million, on the back of decreases in activity-based installation and diversion revenues. This was partly cushioned by a S$2.9 million rise in revenue from fibre connections, given a 3.3 per cent increase in residential connections.
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