KUALA LUMPUR (June 25): Astro Malaysia Holdings Bhd’s first quarter net profit grew marginally by 0.84% to RM176.20 million or 3.38 sen per share, from RM174.73 million or 3.35 sen per share a year ago, thanks to lower marketing and distribution costs, as well as lower finance costs.

Revenue for the quarter ended April 31, 2019 (1QFY19) fell 5.84% to RM1.23 billion, from RM1.31 billion previously.

In a filing to Bursa Malaysia, the group said its marketing and distribution costs declined 27.7% during the quarter to RM92.4 million, from RM127.8 million a year ago,

Finance costs, meanwhile, decreased 12.53% to RM64.9 million, from RM74.2 million.

Astro has proposed a first interim single-tier dividend of two sen per share, payable on July 25.

On prospects, Astro said the market is increasingly challenging, with ongoing structural changes in the global content and media industry and threat of piracy.

“We remained focus on strengthening core Pay TV and NJOI businesses by redefining customer value propositions and refreshing content.

“By leveraging on our customer base, we will build new revenue adjacencies in broadband, OTT, regional content co-production, data driven marketing network and commerce, as well as elevating customer service to drive customer engagement,” it added.

Shares of Astro closed six sen or 4.14% higher at RM1.51 today, giving the group a market capitalisation of RM7.87 billion.