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24 February, 2022
Matrix Concepts returns to pre-pandemic levels in Q3 FY2022, with new property sales up 35.5% to RM356.7M and dividend payout raised to 52.9%.
Returning to pre-pandemic levels is a milestone we did not take for granted. In Q3 ended December 2021, new property sales grew 35.5% year-on-year to RM356.7 million, driven by strong demand at Sendayan Developments, and we increased our dividend payout to 52.9%, reflecting our confidence in the earnings visibility ahead. With unbilled sales of RM1.3 billion and RM270 million worth of new launches planned for Q4, the momentum we rebuilt through one of the most challenging periods in the industry's history is real and it is holding. Find out more about our developments at Bandar Sri Sendayan.
Matrix Concepts Holdings Bhd increased its dividend payout to 52.9%, declaring a 3.75 sen interim dividend for the third quarter ended Dec. 31, 2021, following a strong recovery in property sales.
New property sales jumped 35.5% year-on-year to RM356.7 million, driven by robust demand for residential homes at Sendayan Developments in Seremban. Although quarterly revenue and profit declined due to lower contributions from industrial, commercial, and Klang Valley projects, the group recorded a stronger gross profit margin.
Looking ahead, Matrix Concepts remains optimistic about surpassing its RM1.2 billion full-year sales target. The company plans to launch RM270 million worth of new residential projects and expects its RM1.3 billion in unbilled sales to support earnings over the next 12 to 15 months.
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