APTT's Q1 profit of $17.9m falls short of forecast

ASIAN Pay Television Trust (APTT) posted a net profit of $17.9 million for the quarter ended March 31, 2014, 3.9 per cent lower than forecast in its listing prospectus last year.

The business trust, which debuted on the Singapore Exchange last May, saw revenue come in at $77.2 million, 3.3 per cent lower than expected.

This was partially driven by a lower-than-expected number of broadband subscribers and from a lower average revenue per user because of the "soft economic environment in Taiwan", the trust said.