Astro Malaysia Holdings Bhd traded flat at RM0.060 as at 11.26 am, reflecting a weak but stable short-term price performance amid heavy trading volumes and ongoing pressure in the media sector, according to Bursa data.
The counter opened at RM0.060, hit a high of RM0.060 and a low of RM0.055, before settling at RM0.060 with no change in price movement. Volume stood at 36,833 lots while buy interest was recorded at 430,999 lots against sell volume of 88,637 lots, indicating persistent liquidity despite subdued price action.
Market participants noted that Astro’s lack of upward momentum comes against a backdrop of recent earnings showing continued pressure on profitability. The group’s latest quarterly results saw profit after tax and minority interest plunge 86% to RM1.5 million, highlighting ongoing challenges in subscription and advertising revenue streams.
Revenue for the quarter came in at RM660 million compared with RM702 million a year earlier, reflecting softer contributions across key segments as consumers remained cautious in discretionary spending. Advertising expenditure stood at RM68 million with radio showing relative resilience while digital migration continued to weigh on traditional media demand.
Despite weaker earnings, Astro reported EBITDA of RM133 million with margins improving to 20% supported by cost discipline and lower receivables impairment. Free cash flow remained positive at RM100 million with cash balances at RM491 million and net debt-to-EBITDA at 3.0 times, suggesting continued financial stability.
The group continues to focus on strengthening its content ecosystem and digital engagement strategy while managing costs in a challenging operating environment. However, investor sentiment remains cautious as structural shifts in media consumption and advertising spend continue to pressure the stock’s valuation and trading momentum.
