SINGAPORE - Fibre network provider NetLink reported $85.1 million in profit after taxes for the first nine months of its 2024 financial year ended Dec 31, 2023.

This was a 4 per cent increase from the same period a year ago.

The higher profit was a result of improved earnings, though it was partially offset by higher net finance cost, depreciation, and income tax expenses, said NetLink in a bourse filing on Feb 6.

Earnings before interest, taxes, depreciation and amortisation came in at $228.5 million over the nine-month period, a 3.9 per cent increase from the same period a year ago.

NetLink said the improved earnings were mainly due to higher revenue and a one-off reversal of operating costs following a resolution of disputed power charges.

Revenue rose 3.2 per cent to $309.4 million over the same period a year ago, mainly due to higher connection revenue across all segments and higher installation-related revenue.

As at Dec 31, 2023, there were over 1.5 million residential connections compared with 1.48 million a year ago. Residential connections made up 59.9 per cent of NetLink’s revenue in the period.

Non-building address point and segment connections stood at slightly more than 6,300 at the end of 2023, compared to 5,200 at the end of the previous year.

NetLink said that it will focus on improving network reach, densification and capability in support of its fibre-to-anywhere deployment, as well as increasing its competitiveness in the enterprise and government segments.

It is also exploring opportunities to invest in telecoms infrastructure businesses overseas which are likely to generate a stable cash flow.

Units of NetLink NBN Trust rose 0.6 per cent or $0.005 to close at $0.85 on Feb 6. THE BUSINESS TIMES