Astro All Asia Networks PLC said its its earnings before interest, tax, depreciation and amortisation (EBITDA) excluding costs and provisions incurred in respect of the Indonesia venture, rose 20 percent to RM671 million for the year ended January 31, 2009.

Revenue rose 14 percent to RM2.971 billion from RM2.602 billion previously, which is attributable to higher subscriber additions in Malaysia pay-TV business, Astro said in a statement.

It achieved record high subscriber additions in its Malaysian pay-TV business as the radio business continued to expand at a healthy pace amid signs of a slowing economy and greater competition.

Good progress was also made in the pay-TV business in India, Astro said.

Pay-TV subscriber growth in Malaysia was underpinned by a strategy focused on targeting new customers through the group's continuing investment in local content.

Gross subscriber additions in the year were at a new high of 612,000 resulting in 374,000 net new customers.

Churn remained within targeted levels at 9.7 percent, it said.

Sun Direct, a leading provider of Direct-To-Home satellite TV services in India and in which the group owns a 20 percent equity stake, continued to grow driven by continuing demand for high-quality pay-TV services.

Services were initially launched in southern India but were subsequently expanded to all the major metropolitan areas across the country.

Sun Direct now has over 2.5 million subscribers, it added.

Astro said during the year, the group has accounted for RM687 million of cost incurred in providing services and support to a previously proposed joint venture in Indonesia.

While this has had a very significant impact on the group's results for the current year, the board believes that adequate provision has been made for costs associated with the now terminated business proposal, it said.

Various legal actions have commenced in respect of developments in Indonesia and the group is required to account for costs associated with these actions as they are incurred.

As a result of the cost of terminating the provision of broadcast services in Indonesia and anticipated start-up losses arising in certain regional investments, the group reported a loss after tax and minority interest of RM529.187 million.

Consistent with the group's commitment to a progressive dividend policy, the board recommended a final tax exempt dividend of 2.5 sen per share, bringing the total dividend for the year to 10 sen per share.

The Malaysian business has delivered a strong performance for the year amidst a challenging business environment, said chairman Datuk Badri Masri.

"With the current economic uncertainties, we must be cautious and manage the business with a high regard for conserving cash and minimising costs," he said.

However, he said Astro believed that it would continue to grow the Malaysian pay-TV, radio and content businesses by strengthening their value propositions to achieve better market share and implementing effective cost management measures to sustain margins and profit growth.

"We remain focused on product and service improvement and ongoing innovation."

On its business, Astro said the pay-TV business had gained from marketing efforts targeted at under-penetrated segments.

It said the revenue was up 14 percent at RM2.66 billion from a year earlier, while EBITDA was higher at RM704 million.

Average Revenue Per User is maintained at RM82 from a year earlier, it added.

On the radio operations, Astro said it saw higher revenue due to strong demand by advertisers and rate card revision.

The revenue was up eight percent at RM182 million from a year earlier, while EBITDA rose 17 percent to RM83 million, it said.

In the fourth quarter ended January 31, 2009, Astro posted an after tax loss of RM28.880 million, compared with a loss of RM17.936 million in the previous corresponding, while revenue rose to RM774.534 million from RM710.033 million.