Astro Malaysia reported its quarter 1 2024 financials with revenue dipping from RM962 in 2022 to RM891 for the current quarter, profit for the period was also impacted with the group recording RM13.6 million versus RM95 million in the same preceding year’s quarter. PATAMI was impacted by higher unrealised forex loss due to transponder lease liabilities as the US Dollar strengthened.
The Group said it remained cash generative and proactive in its capital management. The Board of Directors has declared a first interim dividend of 0.25 sen per share, exercising caution as Astro continues to reinvest in its transformation for long-term growth.
Euan Smith, Group CEO of Astro said: “Our bold playbook is transforming Astro into a digital, streaming company. About 25% of our customers are now enjoying our new streaming TV packs, which offer 11 premium streaming apps on top of our sparkling slate of Astro Originals and live signatures, sports, movies, news and kids. Our new TV packs, which can be bundled with our own internet service, Astro Fibre, continue to see good take up as customers can seamlessly stream on-demand entertainment and enjoy greater value. As such, our ARPU has grown by RM1.30 y-o-y to RM98.70 in Q1FY24.
Macroeconomic headwinds including slowing global growth, strengthening USD, relatively high-interest rates, and moderate but elevated levels of inflation; are expected to continue impacting households and businesses. The Group maintains a cautious outlook and will carefully monitor business conditions, whilst prudently managing costs.
