Thursday, September 15, 2016

Results Note � Astro (BUY, maintain)


Top Calls

Results Note Astro (BUY, maintain)

- 1HFY17 results within expectation, higher DPS

Astro
s 1HFY17 core net profit of RM373.5m (+4.9% yoy) was within our expectation but above consensus. The improvement in earnings was underpinned by an increase in adex revenue, Go Shop and radio segment contribution. Astro also announced a higher interim DPS of 6 sen in 1HFY17 as expected (1HFY16: 5.5 sen). Maintain our BUY rating on Astro with a new TP at RM3.30 as we roll forward our valuation horizon.



For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.

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