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|Astro Group Revenues Up 10%|
|Wednesday, 31 March 2010 16:26|
ASTRO ALL ASIA NETWORKS PLC has announced its unaudited results for the financial year ended 31 January 2010. Group revenue grew 10% to RM3.3 billion, underpinned by a strong performance from the Group’s core pay-TV business in Malaysia.
Group EBITDA rose 24% to RM831 million from RM671 million a year earlier, principally due to increasing demand for pay-TV and radio services.
As a result, the Group recorded a net profit after tax and minority interest of RM233 million as compared to a net loss of RM529 million in the previous year that had been adversely affected by costs associated with the termination of pay-TV services in Indonesia.
The Group’s pay-TV business in Malaysia gained some 284,000 net new customers, bringing the residential subscriber base to 2.93 million, representing 49% penetration of Malaysian TV households and generating an EBITDA margin of 29%. AMP, the Group’s domestic radio business unit, also returned a satisfactory performance that saw it confirm its position as the leading radio network in Malaysia with more than half of the nation’s listening share, despite a very competitive market for radio services and challenging economic conditions for advertisers.
Astro TV Chief Executive Officer Dato’ Rohana Rozhan said: “Astro TV achieved an EBITDA of RM846 million or margin of 29% for FY2010, which is the highest ever in our company’s history. This may be attributed to a strong execution of our operating plans and disciplined cost controls. We recorded 284,000 net additions, bringing our total customer base to 2.93 million.
The response to our High Definition services continues to gain momentum, and we plan to introduce new offerings such as Digital Video Recording, VOD/NVOD and IP connectivity. 2010 is a huge year for sports fans as Astro will be broadcasting, amongst others, all 64 World Cup matches, live in both Standard Definition (SD) and High Definition (HD), Thomas and Uber Cup, New Delhi Commonwealth Games and Guang Zhou Asian Games in addition to our recently launched local sports channel, Astro Arena”.