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Good dividend yield but no growth catalyst for Astro

Justin Lim
Justin Lim10/15/2018 07:30 AM GMT+08  • 5 min read
Good dividend yield but no growth catalyst for Astro
SINGAPORE (Oct 15): Astro Malaysia Holdings two weeks ago announced its lowest quarterly earnings since it was relisted on Bursa Malaysia in October 2012.
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SINGAPORE (Oct 15): Astro Malaysia Holdings two weeks ago announced its lowest quarterly earnings since it was relisted on Bursa Malaysia in October 2012.

It posted a net profit of RM16.6 million ($5.5 million) in its second quarter ended July 31, down 93% from the previous corresponding period. The company attributed the huge contraction to higher content costs, owing to the Fifa World Cup 2018 and higher merchandise and net finance costs.

As a result, the group’s core earnings in 1HFY2019 made up only 33% of consensus estimates. Half-year net profit stood at RM191.3 million, less than half the RM442.16 million posted a year ago.

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