Astro Malaysia pushes ahead with transformation
Published On: 14.12.23 By: The Star
KUALA LUMPUR: Astro Malaysia Holdings Bhd is maintaining a cautious outlook as it continues to push ahead with its business transformation.
The media and entertainment group registered a net loss of RM47.05mil in the third quarter of its 2024 financial year (FY24), which compares to a net profit of RM5.8mil in the same quarter in 2022.
The group registered a loss per share of 0.9 sen as compared to earnings per share of 0.11 sen in the comparative quarter.
According to the group, the decline was owing to lower earnings before interest, tax, depreciation and amortisation (Ebitda) margin due to higher staff-related costs following from a voluntary separation scheme (VSS), content costs, impairment of receivables and other costs and fees.
In a statement, Astro group CEO Euan Smith said the company completed its VSS in 3QFY24, which reduced headcount by 20%.
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