KUALA LUMPUR, Dec 15 — Astro Malaysia Holdings Bhd’s net profit for the third quarter ended Oct 31, 2022, has decreased to RM5.80 million, or by 97.1 per cent, compared to RM105.92 million achieved in the same quarter last year.
Revenue was recorded at RM926.18 million, a 9.4 per cent reduction, from RM1.02 billion previously, the group said in a filing with Bursa Malaysia today.
It said the lower revenue was mainly affected by the lessening subscription revenue and merchandise sales, offset by an increase in advertising revenue.
The group also said that the net profit fall was due to higher net financing costs arising largely from unrealised forex impact from unhedged finance lease liabilities and a drop in earnings before interest, taxes, depreciation, and amortisation (EBITDA), offset by lower tax expenses.
Astro group chief executive officer Henry Tan said that going forward, the company would continuously invest in transformation for long-term and sustainable growth, focusing on content, broadband, streaming, customer experience, data, addressable advertising and technology to better serve customers.
“Alongside progressive user interface and experience enhancements, we are committed to making kids’ viewing safer.
“An increasing number of global streaming apps have been integrated into our flagship Ultra Box and included in our new Astro TV packages for the best big-screen viewing experience,” he said.
Tan said the group expects to continue aggregating the best streaming apps and adding lifestyle apps which are relevant for Malaysians in the near future.
“Addressable advertising is gaining traction in the market and is being enhanced with a unified audience measurement on linear, on-demand and over-the-top services.
“We expect addressable advertising to have increased industry adoption over time and to continue growing into the future,” he added.
Meanwhile, the board has declared a third interim dividend of 0.75 sen per share payable on Jan 13, 2023. — Bernama
