Astro Malaysia net profit fell 29.9pc to RM100.02mil in Q1

NST Tue, Jun 21, 2022 08:52pm - 1 year View Original


KUALA LUMPUR: Astro Malaysia Holdings Bhd's net profit fell 29.9 per cent to RM100.02 million in the first quarter (Q1) ended April 30, 2022, from RM141.25 million a year ago.

In its filing with Bursa Malaysia today, Astro said the decline was due to factors that included higher net financing costs amid unfavourable unrealised foreign exchange loss.

The company's revenue fell 9.36 per cent to RM962.09 million in Q1 2022 from RM1.06 billion last year,  following a decrease in subscription revenue and merchandise sales.

Earnings per share also dropped to 1.92 sen from 2.71 sen.

Astro declared its first interim dividend of 1.25 sen per share, to be paid on July 20.

Astro Group chief executive officer Henry Tan said that despite the headwinds, the company remains steadfast in executing its transformation plan and streaming aggregation strategy.

"The company's average revenue per user (ARPU) improved to RM97.40 as customers migrated to the new and better value packages we launched last November.

"The company will continue to invest in its transformation plans, in particular content, broadband, streaming, customer experience, data, addressable advertising and technology infrastructure to simplify its processes and most importantly, to serve its customers better," he said.

In a separate statement today, Astro has announced the redesignation of its independent non-executive director Tunku Ali Redhauddin Ibni Tuanku Muhriz, to become its new chairman, effective June 23.

Tunku Ali will be replacing Tun Zaki Tun Azmi, who has resigned after helming the post since 2012.

Tunku Ali is currently the chairman of Bumi Armada Bhd and Taliworks Corp Bhd and sits on the boards of Bangkok Bank Bhd and Sun Life Malaysia Assurance Bhd.

As a senior adviser to TPG Capital, he also sits on several portfolio company boards, including Pathology Asia Holdings, CVS KL, XCL Education Malaysia, and Columbia Asia.

Tunku Ali said he is honoured to be appointed by the Astro board as its new chairman.

"I look forward to working with the board and management on the next step of Astro's journey as we continue solidifying our industry position, with our customers at the core.

"On behalf of the board, I would like to thank Tun Zaki Tun Azmi for his leadership and contribution to the group over the years," said Tunku Ali.

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