Astro Holdings released its financial Q4FY24 and full year results as the group faces ongoing macroeconomic headwinds and foreign currency volatility. For Q4 the group registered a revenue of RM820mn which was lower than the previous year’s quarter of RM949 million, profit was also lower at RM44 million versus in Q4FY23 which stood at RM54 million.
For the full year, the group recorded a revenue of RM3.3 billion which dropped slightly from RM3.6 billion in 2023, however the broadcaster saw its net profit plunge to RM36 million from RM259 million from FY2023.
Astro maintained its dividend policy nevertheless, the group’ dividend policy is to pay dividends annually out of consolidated PATAMI. The dividend declared in respect of FY24 amounted to 0.25 sen per share, equating to a 31% payout ratio for the full year.
Euan Smith, Group CEO of Astro said: “Delivery of world-class content and services; accelerating growth in new businesses and transforming our legacy cost base to reflect the new realities of the Pay-TV landscape continues to be our key focus. Despite a rather turbulent economic landscape and the challenges of reinvention faced by PayTV operators globally, Astro remains resilient, implementing multiple initiatives that broaden our technology accessibility and convenience, as well as diversifying our business.
The Group said it continues to maintain a cautious outlook, carefully monitoring business conditions and ensuring effective cost discipline.
