KUALA LUMPUR: Astro Malaysia Holdings Bhd expects the ongoing rollout of the nationwide vaccination programme and subsequent relaxation of restrictions to pave the way for economic recovery.
Given the uncertainties created by the Covid-19 pandemic, the group said it would prudently manage costs to ensure sustainable operations and business performance.
“Significant near-term challenges remain as the Covid-19 pandemic continues,” Astro Malaysia said in a statement yesterday.
“The prolonged pandemic will impact the Malaysian economy, commercial enterprises and the consumer wallet with consequential effects for Astro Malaysia’s revenue, particularly in the areas of advertising, enterprise and residential subscription revenues.”
Astro Malaysia recorded a net profit of RM87.13mil for its second quarter ended July 31, 2021, compared with RM133.65mil in the previous corresponding period.
The group said this was mainly due to the decrease in earnings before interest, taxes, depreciation, and amortisation, as well as higher net financing costs, offset by lower depreciation of property, plant and equipment and tax expenses.
Revenue in the second quarter ended July 31, 2021 stood at RM1.06bil compared with RM1.09bil a year earlier.
For its six-months period ended July 31, 2021, Astro Malaysia’s net profit rose to RM228.37mil from RM207.49mil in the previous corresponding period, while revenue stood at RM2.12bil from RM2.14bil a year earlier.
Astro Malaysia chairman Tun Zaki Azmi said the group’s results for the first half of its current financial year remained resilient amid the prolonged lockdown.
“Astro Malaysia continued to be cash generative, cost disciplined and proactive in its capital management. The board has declared a second interim dividend of 1.5 sen per share,” he said in a statement yesterday.
In the same statement, group chief executive officer Henry Tan said Astro Malaysia, which turns 25 this year, will be revitalising its brand and powering ahead in its transformation journey.
He said this will encompass becoming the number one aggregator in terms of the best streaming services in the country.