KUALA LUMPUR (Sept 15): CIMB Investment Bank Bhd said Astro Malaysia Holdings Bhd's first half results were in line at 51% of CIMB's full-year forecast and 49% of consensus estimates. 1HFY17 net profit climbed to RM327.6 million, from RM305.54 million a year earlier. Today, CIMB analyst Mohd Shanaz Noor Azam said Astro remains its sector top pick, due to its defensive earnings and dominant market position at 69% household penetration at end-July this year. Rising average revenue per user (ARPU) from value-added services and stronger home shopping contribution are potential catalysts," Mohd Shanaz said. At 11:37 a.m., Astro shares dipped seven sen or 2.4% to RM2.88, with 93,900 shares traded.

Source: The Edge Markets September 15, 2016 04:18 UTC