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.