SECOND-QUARTER EARNINGS: Revenue also jumps to RM1.19b
ASTRO Malaysia Holdings Bhd has posted a higher net profit of RM98.33 million for the second quarter in the financial year ending January 31 2014, compared with RM94.47 million in the corresponding quarter last year.
Revenue for the second quarter was also better at RM1.19 billion compared with RM1.07 billion previously.
For the cumulative six-month period, Astro registered a net profit of RM212.97 million, slightly lower than the RM216.75 million it posted in the same period of the previous financial year due to the three-year amortisation of the hardware element of its decoder boxes and its subsidisation of the boxes.
Revenue was, however, 13 per cent higher year-on-year at RM2.31 billion, its chief executive officer Datuk Rohana Rozhan announced to the press here yesterday.
"Our free cash flow currently stands strong at 221 per cent of our profit after tax at RM469 million," she said.
She said a second interim dividend of two sen per share has been declared, bringing the total dividend for the first six months of the current financial year to four sen per share.
Rohana said the second quarter saw the Pay TV customer base increase by 43,000 to 3.36 million quarter-on-quarter and NJOI (subscription free satellite TV) customers rise by 50,000 to 314,000, bringing Astro's total customer base to 3.67 million, or 54 per cent, of Malaysian TV households.
The number of customers on Astro B.yond rose by 290,000 to 2.47 million, representing 74 per cent of its total Pay TV customers.
For its IPTV, it has 15,000 customers now and hopes to double it by the end of the current financial year.
Rohana said Astro is on track to see continued growth in its earnings for the rest of the year and does not expect to be impacted by both the lower economic forecast and depreciation of the ringgit.
"Our advertising expenditure (adex) has been outstripping the industry adex growth and we expect this to continue for the rest of the year. Astro is an integrated cross media platform, providing our customers with access to content wherever they may be, and our advertisers with an increasing reach to consumers."
In the first half of its current financial year, Astro's adex grew by 15 per cent to RM270 million, with its share of TV adex growing to 30 per cent and share of radio adex at 55 per cent.