Highlight Astro’s 3Q profit rises 4.8% yoy to RM123.7m, declares 2 sen dividend

Business & Markets 2013
Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia
Thursday, 05 December 2013 18:53
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KUALA LUMPUR (Dec 5): Astro Malaysia Holdings Bhd saw a rise of 4.8% in
net profit to RM123.7 million for its third quarter ended October 2013, from
RM118.1 million in similar quarter last year.
A dividend of 2 sen was announced by the group. The dividend will be payable
on Dec 20, 2013.
Revenue for the quarter was recorded at RM1.217 billion, a 12.8% jump from
RM1.078 billion in the previous corresponding quarter.
“The increase in net profit is mainly due to increase in EBITDA of RM75.9
million, which was offset by an increase in depreciation of set-top boxes of
RM48.5 million and an increase in net finance cost of RM26.4 million,” said the
group.
The group attributed the increase in revenue to “the increase in subscription,
advertising and other revenue of RM77.5 million, RM27.3 million and RM33.3 million respectively.”
For the nine months to October 2013, net profit rose slightly to RM336.6 million from RM334.8 million in the previous year’s same period.
Revenue for the period was higher at RM3.531 billion, compared to RM3.133 last year.
Looking forward, the group said it will continue to execute its key strategy of providing better content and product choices, value and
customer experience.
“On the basis of the above, the board believes that the group will continue to be cash-generative; and given its financial strength, it will be
able to both invest in its growth strategy and pursue its dividend policy,” said the group.