PETALING JAYA: Matrix Concepts Holdings Bhd saw its net profit rise 11% to RM58.74 million for the second quarter ended September 30, 2019 against RM52.94 million in the same quarter a year ago, due to higher recognition from property sales.
Revenue for the quarter grew 11.6% to RM282.73 million from RM253.31 million.
The property developer has proposed to declare an interim dividend of 3 sen per share.
For the six-month period, Matrix reported a 10% increase in net profit to RM113.39 million from RM103.09 million, while revenue was up 9.9% to RM531.23 million from RM483.35 million.
It sold RM665.6 million worth of new properties during the period, exceeding 50% of the group’s full-year sales target of RM1.3 billion. Unbilled sales stood at RM1.2 billion, which will provide solid earnings visibility for the next 15 months.
Matrix chairman Datuk Haji Mohamad Haslah Mohamad Amin said the group will embark on more landbank expansion plans to support future development.
“We also look forward to expanding our recurring income stream beyond property development, through other business units namely hospitality, education, and our most recent foray into the healthcare segment.”
“In the next phase of our growth plans, we aim to enhance the Matrix brand beyond our origins in Negri Sembilan, as we embark on expanding our footprint in Klang Valley and Australia. Additionally, the upcoming launch of the prestigious Menara Syariah Twin Towers in Jakarta is testament to our commitment towards sustained growth for the long term.”
