KUALA LUMPUR, March 26 — Astro Malaysia Holdings Bhd’s net profit for the financial year ended Jan 31, 2019 (FY19) fell to RM462.92 million from RM770.64 million in FY18.
Revenue eased to RM5.48 billion versus RM5.53 billion posted in the previous year due to a decrease in subscription and advertising revenue, offset by an increase in merchandise sales and licensing income.
The reduction in subscription revenue was mainly due to lower package take-up, while advertising revenue was affected by the slowdown in the advertising market, the broadcast satellite pay TV provider said in a filing with Bursa Malaysia today.
Basic earnings per share also decreased to 8.88 sen from 14.79 sen previously.
Moving forward, Astro said it anticipated FY20 to be challenging and recognised the urgency to strengthen its customer value proposition through initiatives such as broadband bundles, seamless viewing across all screens, better customer service and deeper engagement with customers.
The group also intends to ride on its key differentiator — its content — by strengthening local vernacular and Asian originals via strategic partnerships to address local and regional audiences.
As part of the group’s revenue diversification, the company said it would continue to leverage its customer base to offer targeted marketing and advertising solutions — enabled by data and analytics — to drive advertising and commercial revenue. — Bernama
