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With the new Islam funds compliance, many Muslim country manager might want to buy it for stable dividend payout
spursfan ( Date: 01-Jun-2022 14:56) Posted:
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My average after XD will be 79.13 cts.
This one will chug along fine in the next few years with 5%+ annual dividend if price remain below $1.
NetLink NBN Trust posts DPU of 2.57 S&rsquo pore cents for H2 FY2022, up 0.8%
FIBRE network infrastructure owner NetLink NBN Trust reported a 0.8 per cent year-on-year increase in distribution per unit (DPU) to 2.57 Singapore cents for the 6 months ended March 31, 2022.
Revenue for the 6-month period was 1.4 per cent higher at S$189.68 million on the back of higher connections revenue, which was partially offset by lower Central Office revenue. Meanwhile, profit attributable to unitholders rose 2.3 per cent to S$51.18 million.
For FY2022, the group chalked up a revenue of S$377.61 million, up 2.5 per cent from FY2021, mainly due to higher residential, non-building address points (NBAP) & segment connections revenue, installation-related revenue and ancillary project revenue. Residential connections revenue - which contributed to nearly 64 per cent of total revenue - increased S$2.8 million to S$240.7 million in line with the higher number of connections.
Profit attributable to unitholders slipped 3.7 per cent to S$91.26 million in FY2022. According to NetLink, the decrease was mainly due to a remeasurement loss of S$12.4 million in FY22, relating to finance lease receivables arising from the reduction in rental rates upon the renewal of the Central Office lease agreements with the lessee from September 2021.
The DPU for H2 FY2022 will be payable on June 10. With this, the total DPU for FY2022 works out to 5.13 cents, or 1 per cent higher than FY2021.
NetLink Group&rsquo s net cash from operating activities in FY2022 stood at S$258.73 million, or nearly S$5.8 million lower than FY2021, due to higher trade and other receivables from higher billings in ancillary project and contract assets.
In an update on outlook, NetLink Group is continuing to expand its network to reach new residential dwellings and commercial buildings. In addition, NetLink said that it will continue improving its presence at data centres and will invest in a new Central Office in Singapore, while also exploring opportunities to invest in telecommunication infrastructure businesses overseas.
Meanwhile, NetLink is currently undergoing the review of NetLink Trust&rsquo s services - including prices - offered under its interconnection offer with the IMDA. The regulatory review is expected to be completed by early next year.
The group also said that it expects to maintain its distributions to unitholders.
NETLINK NBN TRUST&rsquo S FY22 DPU INCREASES TO 5.13 SINGAPORE CENTS
- Revenue rises 2.5% to S$377.6 million, led mainly by the fibre business with NBAP and Segment connections recording 46.4% revenue growth
- Residential connections increase 1.2% to 1,464,217 connections....
https://links.sgx.com/1.0.0/corporate-announcements/8QEFM4O42QWGHWTJ/717545_NetLink_NBN_-_News_Release_-_17_May_2022.pdf
- Revenue rises 2.5% to S$377.6 million, led mainly by the fibre business with NBAP and Segment connections recording 46.4% revenue growth
- Residential connections increase 1.2% to 1,464,217 connections....
https://links.sgx.com/1.0.0/corporate-announcements/8QEFM4O42QWGHWTJ/717545_NetLink_NBN_-_News_Release_-_17_May_2022.pdf
Full year results & declaration of dividend (9th round since IPO) after mkt close tdy.
This business trust consistently pays higher dividends.
More than 5% annualised.
Natural choice for those who want low risk & high yield. 💰 🧧
DBS upgrades NetLink to ' buy' on attractive yield, low-risk profile
NETLINK NBN Trust NetLink NBN Tr: CJLU +1.04% posts a low-risk profile, with its distributions likely to remain unaffected by rising inflation and stay resilient amid a stable regulatory rate of return, said DBS Group Research in a report on Wednesday (Mar 9).
Analyst Sachin Mittal upgraded the counter to a " buy" call from " hold" , and raised its target price to S$1.05 from S$1.02, noting that its 5.4 per cent yield is " attractive" .
Units of NetLink, which owns and operates fibre network infrastructure in Singapore, closed at S$0.975 on Wednesday, up 1 per cent or S$0.01.
A sizable portion of NetLink' s earnings are determined under the regulated asset base model, which has a regulatory rate of return currently set at 7 per cent.
Mittal expects the risk-free rate in Singapore will be 2.1 per cent in FY2022 and 2.2 per cent in FY2023, which should in turn minimise the risk of a drop in the regulatory rate of return during the next period of review from January 2023 to December 2027. The risk-free rate was 2.1 per cent when NetLink first listed.
While the residential interconnect rate could drop by 10-12 per cent to maintain the regulatory rate, NetLink should see a growth in subscribers to reach a new high by FY2027, he said.
The analyst also expects NetLink' s distribution yield spread will narrow to 300 basis points from its current 350 bps to reflect its lower risk profile. The company' s historical distribution yield spread average is at 310 bps.
As for inflation, while it may put pressure on capital expenditure and operating expenses, Mittal said as long as NetLink factors in the impact of inflation in its forecasts to the regulator, it should be able to secure a regulated rate that can mitigate rising costs.
Its distributions of around S$200 million should also be supported by its annual operating cash flow of around S$270 million, while its balance sheet is strong enough to fund future capex and acquisitions, Mittal added.
Analysts continue to like Netlink, but warn of risks from upcoming ICO pricing review
Lim Hui Jie Published on Thu, Feb 17, 2022 / 5:14 PM GMT+8 / Updated 2 weeks ago
Lim Hui Jie Published on Thu, Feb 17, 2022 / 5:14 PM GMT+8 / Updated 2 weeks ago
Netlink Trust 9-month profit after tax down 5.2%, despite higher revenue
FIBRE network infrastructure owner NetLink NBN Trust reported on Monday (Feb14) lower profit after tax for the 9-month period ended Dec 31, 2021, even as revenue rose slightly.
In a business update, the trustee-manager said revenue for 9M FY22 increased by S$5.3 million or 1.9 per cent on-year to S$281.6 million mainly due to higher residential, non-building address point (NBAP) & segment connections revenue and installation-related revenue, partially offset by lower central office revenue.
While revenue was higher, earnings before interest, taxes, depreciation and amortisation (Ebitda) was down 6.2 per cent on-year to S$196.9 million. Profit after tax for the 9 months also fell to S$65.8 million, down 5.2 per cent from the prior year period.
The decrease in Ebitda was mostly due to a remeasurement loss of S$12.4 million relating to finance lease receivables arising from the reduction in rental rates upon the renewal of the central office lease agreements.
This had been disclosed in the results for the first half, the trustee-manager said, adding that accounting standards require the reduction in rental rate for FY22 and subsequent years to be recognised upfront as the remeasurement loss.
" The reduction in rental rates is not expected to have a material cashflow impact for FY22 or subsequent years."
As at end-Dec 2021, the trust had net assets of S$2.7 billion, with a cash balance of S$113 million.
Citibank downgrades Netlink to &lsquo sell&rsquo , citing interest rate hikes and interconnection rate cuts
Citibank analyst Luis Hilado has downgraded his rating for Netlink NBN Trust to a &ldquo sell&rdquo from a &ldquo buy&rdquo rating, as well as sharply dropping his target price from $1.08 to 90 cents.
In a Jan 7 report, Hilado says that Netlink&rsquo s review of its regulated asset base (RAB) rates could come &ldquo sooner than expected&rdquo from the Infocomm Development Authority, and this will cause a &ldquo period of uncertainty&rdquo , in his view.
The RAB pricing model governs the prices set for some of Netlink&rsquo s services, such as those related to residential connections, Non-residential connections, NBAP and segment fibre connections, as well as ducts and manholes service revenue.
Hilado thinks that the company could see a 8% reduction in rates for residential connections and non-residential connections, down from his former prediction of 15%-20%.
While the rates are expected to see a smaller reduction, he brings forward his prediction of the cuts to 4QFY2023, which ends in March 2024, instead of 1QFY2024, which ends in June 2024. &ldquo We have assumed similar cuts will recur at such level in every future review period.&rdquo
Aside from the rate revision decision this year, Hilado says there is also the impact of the rising interest rate environment as a potential share price action risk.
He has assumed a 75 basis points interest cost increase for floating rate debts, but adds that the attractiveness of yield plays such as Netlink will be relatively weaker as global and local interest rates rise.
Furthermore, with the stock outperforming the market during the Covid impacted period on a 6-month and 24-month basis, he thinks there will be room for profit-taking once risks begin becoming more evident and as reopening lessens the attractiveness of home broadband services.
Hilado acknowledge, however, that there is potential for additional dividends if more capex is financed with leverage. This is with Netlink at 2 times net debt to EBITDA and being &ldquo comfortable&rdquo to raise this to 4 times.
&ldquo We believe, however, that instead management will conservatively keep a buffer for uncertainty, protecting yield rather than providing upside,&rdquo he says.
NetLink Trust to recover cost of repairs from contractors that caused Toa Payoh service outage
AROUND 900 households lost access to broadband services after a third-party contractor not engaged by NetLink Trust NetLink NBN Tr: CJLU +1.51% damaged the company' s fibre cables on Tuesday (Dec 21). The disruption was later resolved at 5.30 am on Wednesday.
The fibre optic cable owner also said that it would investigate the disruption and take action against the errant contractor.
In response to The Business Times' queries, the company said that such cable cuts can cost up to a few hundred thousand dollars per incident, depending on the extent of the damage caused and the difficulty in restoring the connection. The company said that it will recover the cost of the repairs from the contractors that cut the cables.
In March 2019, the Infocomm Media Development Authority (IMDA) investigations found that most cable-cut incidents occurred when earthworks contractors did not follow procedures laid out by telecommunication network facilities-based operators and failed to exercise their due diligence.
In response, IMDA announced standardised requirements on earthworks for telecommunication network operators and contractors to " enhance clarity and facilitate compliance" among contractors. Contractors would fall afoul of the Telecommunications Act if they fail to comply with the requirements.
Since the requirements were put in place, there have been 3 cases of cable cuts in 2020 and 2021 each, the company said. Prior to 2019, there were an average of 4 cases of cable cuts each year.
NetLink NBN Trust a good dividend yield play: analysts
UOB Kay Hian is downgrading its call on NetLink NBN Trust to &ldquo hold&rdquo from &ldquo buy&rdquo with a target price of $1.08, as the stock is new trading close to the target price.
This comes on the back of NetLink announcing its 1HFY2022 ended September results, which saw DPU increase by 1.2% y-o-y to 2.56 cents, while revenue grew 3.6% y-o-y to $187.9 million.
However, Ebitda and profit after tax (PAT) were lower by 9.4% and 10.5% y-o-y, respectively, due mainly to a remeasurement loss relating to finance lease receivables arising from the reduction in rental rates upon the renewal of the Central Office lease agreements with the lessee from September 2021. In addition, there were lower government grants recorded in this period as compared to the amount received in prior corresponding period.
With a 1HFY2022 core net profit of $52.5 million, representing a 17.2% y-o-y increase, the results are deemed to be within the research house&rsquo s expectations as it accounts for 53% of its full-year forecast.
In a Nov 5 report, lead analyst Chong Lee Len believes that NetLink&rsquo s FY2022 outlook remains stable. &ldquo Key priorities include connecting more residential homes that are not on fibre (especially low-income households) via the Infocomm Media Development Authority&rsquo s (IMDA) Home Access programme,&rdquo says Chong, noting that IMDA will bear the two-year subsidised fibre broadband connectivity and Netlink&rsquo s pricing would not be affected in this initiative.
For non-residential and NBAP, Netlink will focus on adding more capacity to densify network and support 5G infrastructure. It also aims to deepen penetration on data centres&rsquo point-to-point connections. More importantly, Netlink reiterated that its business remains resilient amid market volatility.
Overall, Chong sees the stock as a &ldquo safe haven&rdquo with its attractive dividend yield of 5.3%.
&ldquo Management remains cognisant of the company&rsquo s profile as a high-yielding, safe haven stock. As such, key criteria of any potential new investment in the near horizon would have to include: country risk premium, and preferably stable cash flow via an asset sale and leaseback model,&rdquo says Chong.
&ldquo Importantly, Netlink will have sufficient headroom to drive its acquisition ambition without compromising on cash flow and dividends. Gross debt/EBITDA of 2.6 times as of end-September provides ample room to increase debt for the group,&rdquo he adds.
To that end, the analyst projects an annual DPU of 5.1 cents for FY2022-2024, translating to a sustainable 4.9% net dividend yield.
&ldquo We continue to see the stock as a good shelter amid market volatility given its strong earnings visibility, healthy balance sheet and cautious approach in terms of overseas/domestic acquisition approach,&rdquo says Chong.
On the other hand, PhillipCapital has maintained its " accumulate" recommendation on the stock with a target price of $1.03.
Despite 1HFY2022 showing positive results, analyst Paul Chew is still concerned that residential connection remain soft. " New residential connections in 1HFY2022 were only 3,946. A steep drop from 9,915 in 1HFY2021. Our forecast for FY2022 is lowered from 25,000 to 10,000 new connections," says Chew.
On the outlook, Chew sees FY2022 as NetLink' s recovery from the circuit breaker disruption.
" Installation revenue from NBAP and diversion work rebounded from a low base last year. There is still a lingering impact from the pandemic due to delay in home construction, impacting residential connections. The increase in capital expenditure will depress dividends in the near term, but will build up the regulated asset base and yield returns in the next regulatory review," says Chew.
CGS-CIMB too has kept its " add" rating on NetLink with an unchanged target price of $1.10.
Analyst Ong Khang Chuen likes the stock for its resilient and strong operational metrics with continued fibre connection growth across all three fibre segments. He also notes that NetLink is on the lookout for M& A investments and has an estimated debt headroom $360 million to fund future investments.
NetLink NBN Trust posts 1.2% increase in 1H DPU to 2.56 cents
The manager of Netlink NBN Trust has declared a DPU of 2.56 cents for the 1HFY2022 ended September period, representing a 1.2% increase from 2.53 cents in 1HFY2021.
Similarly, revenue was up by 3.6% to $187.9 million from $181.5 million in the previous year, mainly due to higher residential, non-building address points (NBAP) & segment connections revenue, installation-related revenue and diversion revenue, partially offset by lower ducts and manholes service revenue and Central Office revenue.
Residential connections remained the NetLink&rsquo s core revenue driver, with recurring revenue from residential connections increasing by 1.3% to $120.0 million, supported by a higher number of connections in 1HFY2022. As at Sept 30, there were 1,450,730 connections as compared to 1,437,360 connections in the same period last year.
NBAP and segment connections revenue increased by 51.1% y-o-y to $6.0 million as a result of higher demand for point-to point connections and Central Office-diversity connections to support mobile network rollout and other projects requiring high resiliency.
The NetLink Group saw $2.7 million higher installation-related revenue to $9.6 million last year, mainly due to higher residential service activations and non-residential termination point installation orders. Diversion revenue also increased by $1.2 million to $4.4 million, attributed to more projects completed mainly for government agencies as compared to 1HFY2021 where fewer number of projects were completed due to stoppages in construction work nationwide.
Meanwhile, Central Office revenue decreased by $0.6 million toS$8.9 million mainly due to spaces surrendered by the main lessee in NetLink Group&rsquo s seven Central Offices. Ducts and manholes service revenue decreased by $0.5 million to $14.1 million mainly due to a reduction in service revenue from the leasing of NetLink Group&rsquo s ducts.
Ebitda and profit after tax (PAT) were lower by 9.4% and 10.5% y-o-y, respectively. The decrease was due mainly to a remeasurement loss of $12.4 million relating to finance lease receivables arising from the reduction in rental rates upon the renewal of the Central Office lease agreements with the lessee from September 2021. In addition, there were lower government grants recorded in this period as compared to the amount received in prior corresponding period.
As at end-September, cash and cash equivalents stood at $172.2 million.
On the outlook, NetLink intends to remain vigilant as Singapore transits towards being a Covid-19 resilient nation. The group has put in place measures to minimise any disruption should there be any adverse developments.
NetLink Group&rsquo s business model is resilient and is well-supported by predictable revenue streams from fibre connections to residential and non-residential premises, NBAP locations, network segments and other point-to-point connections and contracted revenues.
&ldquo The group&rsquo s balance sheet and liquidity remains strong, underpinned by stable cashflows and access to financial resources to support future capital expenditure. The group expects to maintain its distributions to unitholders,&rdquo says NetLink Group in its results media release issued on Nov 3.
To that end, NetLink Group intends to continue expanding its network reach, enhancing its network capabilities and exploring opportunities to invest in telecommunication infrastructure business.
NETLINK NBN TRUST INCREASES DPU TO 2.56 SINGAPORE CENTS
- Revenue up 3.6% to S$187.9 million
- Residential connections increase approximately 1.0% to 1,450,730 connections
- EBITDA and PAT down due mainly to an accounting adjustment
https://links.sgx.com/1.0.0/corporate-announcements/X15DI1V5RM20W035/689411_Netlink_NBN_-_H1FY2022_Press_Release_3_November_2021.pdf
- Revenue up 3.6% to S$187.9 million
- Residential connections increase approximately 1.0% to 1,450,730 connections
- EBITDA and PAT down due mainly to an accounting adjustment
https://links.sgx.com/1.0.0/corporate-announcements/X15DI1V5RM20W035/689411_Netlink_NBN_-_H1FY2022_Press_Release_3_November_2021.pdf
This one is great for annual dividend at 5+% yield.
Coming Nov will be my 8th dividend collection since its 2018 IPO at 81 cts.
Notification of Results Release for the Half Year ended 30 September 2021.
Netlink will be announcing it's half year ended 30September 2021 on 3 November after trading hours.
Finally the price move! Any good news?
Analysts positive on Netlink NBN Trust on resilient demand for fibre connectivity
CGS-CIMB analysts Ong Khang Chuen and Darren Ong have kept &ldquo add&rdquo on Netlink NBN Trust with an unchanged target price of $1.10 after the trust&rsquo s results for the 1QFY2022 ended June stood in line with their expectations.
During the quarter, Netlink NBN Trust saw revenue increase by 5.0% y-o-y to $93.4 million. Profit after tax (PAT) and EBITDA stood 1.1% and 5.3% higher y-o-y at $24.8 million and $69.5 million respectively.
Netlink NBN Trust also continued to see growth in all three types of fibre connections, something which both analysts expect to remain in FY2022.
The trust has also begun negotiations with the Infocomm Media Development Authority (IMDA) on the interconnection offer (ICO) pricing for the next review period from 2023 to 2027.
Management has said that it does not expect any surprises from the review. The analysts themselves expect the review to be completed in mid-2022 and have factored in a 5% reduction in ICO prices across all three types of fibre connections.
Calling their estimates &ldquo conservative&rdquo , the analysts say they believe the trust can nevertheless &ldquo sustain stable dividends, given its strong cash flow generation&rdquo .
They add that it has the ability to tap on its strong balance sheet to fund future capital expenditures (capex).
&ldquo With significant debt headroom, Netlink NBN Trust continues to seek for M& A opportunities within the telecom infrastructure space,&rdquo they write in an Aug 24 report.
To this end, the analysts deem earnings-accretive acquisitions and stronger-than-expected growth in NBAP connections as potential re-rating catalysts. Downside risks include lower-than-expected ICO pricing in the upcoming review.
Meanwhile, UOB Kay Hian analysts Chong Lee Len and Chloe Tan have, too, kept &ldquo buy&rdquo on Netlink NBN Trust with the same target price of $1.08.
The analysts say they deem the trust&rsquo s results for the 1QFY2022 to be within expectations of their full-year estimates.
In their report dated Aug 25, the analysts see a stable FY2022 for the trust as its business remains resilient amid market volatility.
The trust is also seen as a &ldquo safe haven&rdquo with an attractive dividend yield of 5.3%.
The yield comes as the analysts project the trust to report an annual distribution per unit (DPU) of 5.1 cents for FY2022 to FY2024.
&ldquo Management remains cognisant of the company&rsquo s profile as a high-yielding, safe haven stock. As such, key criteria of any potential new investment in the near horizon would have to include: a) country risk premium, and b) preferably stable cash flow via an asset sale and leaseback model,&rdquo write Chong and Tan.
&ldquo Importantly, Netlink will have sufficient headroom to drive its acquisition ambition without compromising on cash flow and dividends. Gross debt/EBITDA of 2.5 times as of June 30 provides ample room to increase debt for the group,&rdquo they add.
As at the time of writing, Chong and Tan have advised investors to accumulate shares on its current price weakness.
&ldquo At our target price, the stock trades at 17 times FY2021 EV/EBITDA, +1 standard deviation (s.d.) above its three-year mean
EV/EBITDA of 15.3 times,&rdquo they write. &ldquo We expect the stock to further outperform as investors seek shelter in high dividend-yielding stocks amid external volatility.&rdquo
&ldquo We continue to see the stock as a good shelter amid market volatility given its strong earnings visibility, healthy balance sheet and cautious approach in terms of overseas/domestic acquisition approach,&rdquo they add.
Analysts positive on Netlink NBN Trust on resilient demand for fibre connectivity
CGS-CIMB analysts Ong Khang Chuen and Darren Ong have kept " add" on Netlink NBN Trust with an unchanged target price of $1.10 after the trust' s results for the 1QFY2022 ended June stood in line with their expectations.During the quarter, Netlink NBN Trust saw revenue increase by 5.0% y-o-y to $93.4 million. Profit after tax (PAT) and EBITDA stood 1.1% and 5.3% higher y-o-y at $24.8 million and $69.5 million respectively.
Netlink NBN Trust also continued to see growth in all three types of fibre connections, something which both analysts expect to remain in FY2022.
The trust has also begun negotiations with the Infocomm Media Development Authority (IMDA) on the interconnection offer (ICO) pricing for the next review period from 2023 to 2027.
Management has said that it does not expect any surprises from the review. The analysts themselves expect the review to be completed in mid-2022 and have factored in a 5% reduction in ICO prices across all three types of fibre connections.
Calling their estimates " conservative" , the analysts say they believe the trust can nevertheless " sustain stable dividends, given its strong cash flow generation" .
They add that it has the ability to tap on its strong balance sheet to fund future capital expenditures (capex).
" With significant debt headroom, Netlink NBN Trust continues to seek for M& A opportunities within the telecom infrastructure space," they write in an Aug 24 report.
To this end, the analysts deem earnings-accretive acquisitions and stronger-than-expected growth in NBAP connections as potential re-rating catalysts. Downside risks include lower-than-expected ICO pricing in the upcoming review.
Meanwhile, UOB Kay Hian analysts Chong Lee Len and Chloe Tan have, too, kept " buy" on Netlink NBN Trust with the same target price of $1.08.
The analysts say they deem the trust' s results for the 1QFY2022 to be within expectations of their full-year estimates.
In their report dated Aug 25, the analysts see a stable FY2022 for the trust as its business remains resilient amid market volatility.
The trust is also seen as a " safe haven" with an attractive dividend yield of 5.3%.
The yield comes as the analysts project the trust to report an annual distribution per unit (DPU) of 5.1 cents for FY2022 to FY2024.
" Management remains cognisant of the company' s profile as a high-yielding, safe haven stock. As such, key criteria of any potential new investment in the near horizon would have to include: a) country risk premium, and b) preferably stable cash flow via an asset sale and leaseback model," write Chong and Tan.
" Importantly, Netlink will have sufficient headroom to drive its acquisition ambition without compromising on cash flow and dividends. Gross debt/EBITDA of 2.5 times as of June 30 provides ample room to increase debt for the group," they add.
As at the time of writing, Chong and Tan have advised investors to accumulate shares on its current price weakness.
" At our target price, the stock trades at 17 times FY2021 EV/EBITDA, +1 standard deviation (s.d.) above its three-year mean EV/EBITDA of 15.3 times," they write. " We expect the stock to further outperform as investors seek shelter in high dividend-yielding stocks amid external volatility."
" We continue to see the stock as a good shelter amid market volatility given its strong earnings visibility, healthy balance sheet and cautious approach in terms of overseas/domestic acquisition approach," they add.
Shares in Netlink NBN Trust closed flat at 97 cents with an FY2022 dividend yield of 5.36%, according to CGS-CIMB' s estimates.
Netlink Trust posts 47% earnings jump on lower costs
FIBRE network infrastructure provider Netlink NBN Trust on Tuesday posted a 47.1 per cent increase in net profit to S$50 million for its second half ended March 31, 2021, from S$34 million in the previous year.
This was due to lower finance costs and other operating expenses - the latter mainly due to lower write-off of capitalised project costs in relation to the discontinuation of a contract with a vendor for the replacement of a business and operation support system in February 2020.
Some S$15.4 million had been written off in H2 FY20, versus S$7.4 million written off in H2 FY21, as certain project-related IT assets had been further assessed not to be reusable for the expected future replacement of the business and operation support system.
Revenue grew 1.6 per cent to S$187 million, as contractors' resources returned to normal levels in the second half of the year. At the same time, residential, non-building address points (NBAP) and segment connections revenue as well as installation-related revenue also improved.
The trust also reported a 0.8 per cent rise in attributable distributions to S$99.4 million, and a similar 0.8 per cent increase in distribution per unit (DPU) to 2.55 Singapore cents. It will close its books on May 25, 5pm, and pay out its distributions on June 9.
For the full year, it reported a 21.4 per cent increase in net profit to S$94.8 million, due to the lower write-off of capitalised project costs, higher other income arising from government grants, as well as lower operation and maintenance, installation, and finance costs.
Full-year revenue dipped 0.5 per cent to S$368.5 million, mainly due to lower revenue from installations, diversions, ducts and manholes services as well as co-locations and others. Revenue that relied on contractors' resources and requiring access to premises were also affected by Covid-19 related issues such as work stoppages and access restrictions to homes and buildings. This affected the completion of installation works from April to August 2020.
The trust said it expects to maintain its distributions to unitholders.
It is also expanding its network in new housing estates and working proactively with the requesting licensees and retail service providers in their efforts to acquire new non-residential and NBAP customers.
It is looking to improve its presence at major data centres, and to support mobile operators by deploying fibres to support their mobile network infrastructure. It is also exploring opportunities to invest in telecommunication infrastructure businesses overseas.
Well done...got in at around 90cents. Now LONG TO ENJOY!
Calmroom ( Date: 11-May-2021 23:48) Posted:
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