KUALA LUMPUR: Astro Malaysia Holdings Bhd
says it continues to maintain a cautious outlook, carefully monitoring business conditions and ensuring effective cost discipline.
"Mindful of cost-of-living pressures, we have just launched three streamlined Astro One TV packs aimed at making Astro more compelling overall in terms of value, convenience and online safety, with the intent to grow new customers and support advertising trajectory over the long-term," it said in comments accompanying its results filing with Bursa Malaysia.
Astro group CEO Euan Smith said Astro One is also a way to combat the growing threat of piracy by giving people safe, affordable access to content.
"As we look to the future, we remain steadfast in our mission to be Malaysia’s No.1 Entertainment and Streaming Destination. Even as we navigate consumer headwinds, our focus remains on growing new customers, strengthening adjacent businesses, and reducing legacy costs," he added in a statement.
In the third quarter ended Oct 21, 2024, Astro posted a net profit of RM46.94mil, which was a swing into the black from a net loss of RM47.05mil in the year-ago quarter.
It said the increase resulted from lower net financing costs driven by favourable unrealised forex arising from unhedged lease liabilities and lower amortisation of intangible assets, offset by lower earnings before interest, taxes, depreciation and amortisation and higher tax expense.
The group registered earnings per share of 0.9 sen against loss per share of 0.9 sen previously.
Revenue during the quarter under review was lower at RM749.7mil as compared to RM828.55mil, following a decline in subscription and advertising contributions.
For the nine months period, Astro registered a net profit of RM118.66mil on the back of revenue of RM2.31bil as compared to a net loss of RM7.51mil on revenue of RM2.52bil.
