Ventia Services has a “very good relationship” with NBN Co but new competitors can struggle to secure telco maintenance work due to high entry barriers, chief executive Dean Banks said after annual net profit rose 16 per cent to $220.2 million.

Banks was pressed to explain “the competitive dynamic” for NBN installation and maintenance contracts after rival contractor BSA revealed on Tuesday it was not among the preferred bidders for lucrative new contracts due to be awarded this year.