PhillipCapital has maintained its “buy” call on Asian Pay TV Trust (APTT) with a target price of 15 cents.

This came on the back of the trust announcing its 2Q20 results, which saw distribution per unit (DPU) decline to 0.25 cents from 0.3 cents a year ago. The trust said that this lower amount of DPU of 0.25 cents is expected to remain until the end of 2020. 

During the quarter, APTT also saw net profit plunge some 32% y-o-y to $4.8 million, due to higher operating costs and stiffer competition. But revenue inched up 4.8% y-o-y to $75.6 million, following an increase of 6,000 users to its Premium digital cable TV platform and 4,000 Broadband subscribers and the appreciation of the Taiwan dollar. 

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