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Matrix Concepts sets record-high RM182.6 million net profit in FY2014 in challenging property market [PRESS RELEASE]

  • Achieved through improved product mix and higher sales recognition from residential and industrial properties
  • Group to launch RM1 billion GDV projects and establish investment properties stream in FY2015
  • Declares fourth interim dividend of 5.25 sen per share and special dividend of 1.25 sen per share

Seremban, Negeri Sembilan, Malaysia, 12 February 2015 – Leading Negeri Sembilan property developer Matrix Concepts Holdings Berhad (Matrix Concepts; 金群利集团; Bloomberg: MCH:MK; Reuters: MATR.KL) set record-high RM182.6 million net profit in the financial year ended 31 December 2014 (FY2014), jumping 20.5% from RM151.6 million a year ago.

The Group’s enhanced profitability was attributed to an improved product mix in the property development segment, complemented with higher sales recognition for its residential and industrial properties.

Group revenue increased to RM598.3 million in FY2014 from RM573.5 million previously.

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

“Our strong FY2014 report card is the result of the Group’s strategies to enhance efficiency and move up the value chain, even though the overall climate was challenging. The strong buyer response to our launches justified our commitment to availing properties that are within reach to a growing population in Negeri Sembilan and Johor.

We believe that demand for affordable products would remain intact in FY2015, and intend to continue our momentum going forward. Hence, we target to launch new projects amounting to a gross development value of RM1 billion in Negeri Sembilan and Johor, which will stand us in good stead to deliver stronger growth in the years to come.”

Matrix Concepts’ unbilled sales amounted to RM429.3 million as at 31 December 2014, which will last the Group until 2017.

Read the full press release here.