KUALA LUMPUR — March 26, 2019: Astro Malaysia Holdings’s net profit for the financial year ended last January 31 fell by RM307.72 million to RM462.92 million.
Revenue eased to RM5.48 billion versus RM5.53 billion a year earlier due to a decrease in subscriptions and advertising, offset by an increase in merchandise sales and licensing income.
The reduction in subscription revenue was mainly due to lower package take-ups 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 went down to 8.88 sen from 14.79 sen.
Astro anticipates this year to be challenging and recognises 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 will 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