Astro's core net profit stands at RM563 million for financial year 2019.
PETALING JAYA: Pay TV operator Astro Holdings Bhd reported a core net profit of RM563 million for financial year 2019, which is within expectations, according to Kenanga Research.
Astro’s core net profit declined 17% year-on-year , mainly due to higher content costs during World Cup 2018 and unfavourable forex movements from unhedged finance lease liabilities. “Moving forward, Astro is set to deepen its value proposition for customers across multiple platforms with revenue diversification, deeper cost optimisation as well as an anti-piracy push as its key focus in FY20,” Kenanga Research said in a note today.
Turnover from its home-shopping segment climbed 29% to RM374 million due to the higher number of products sold with a loss of RM6 million compared to RM15 million previously.Despite the take-up of more lower-priced packages over the past few quarters, its blended average revenue per user has remained relatively stable at about RM100 over the past five quarters, suggesting that the group may have found an optimal price point for its packages.
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