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Matrix Concepts 1Q15 net profit surges threefold to RM115.4 million [Press Release]

  • Boosted by accelerated revenue recognition for residential and industrial properties
  • Targets for investment properties to contribute 10% to group revenue in 5 years
  • Declares 1st interim dividend of 4.25 sen per share in respect of FY2015 payable on 9 July 2015

Seremban, Negeri Sembilan, Malaysia, 12 May 2015 – Leading Negeri Sembilan property developer Matrix Concepts Holdings Berhad(Matrix Concepts; 金群利集团; Bloomberg: MCH:MK; Reuters: MATR.KL) started the year on strong footing with a threefold surge in net profit to RM115.4 million for the first quarter ended 31 March 2015 (1Q15), from RM38.6 million in the previous year on accelerated revenue recognition for residential and industrial properties.

Group revenue increased to RM317.6 million in 1Q15, increasing 135.8% from RM134.6 million previously.

Dato’ Haji Mohamad Haslah bin Mohamad Amin, Chairman of Matrix Concepts Holdings Berhad said:

“We noted a bumper quarter due to the quicker construction progress of our ongoing residential projects in Bandar Sri Sendayan (BSS), as well as accelerated payments by investors for industrial properties at Sendayan TechValley.

Since the launch of BSS in 2008, we have delivered more than 5,800 units of residential homes and built a community of almost 30,000-strong to date. We are well on our way to establishing critical mass, which will form the core foundation of a vibrant and dynamic township.

Hence, it is timely for us to commence the educational and lifestyle amenities in BSS, which make up our investment properties segment. We target to grow the segment to contribute 10% of group revenue in the next five years.”

Read the full press release here.