NetLink posts S$13m gain for first fiscal period post-listing

Singapore

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

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