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[StarBiz] Matrix Concepts net profit surges to RM115m

KUALA LUMPUR: Matrix Concepts Holdings Bhd’s net profit surged nearly 200% to RM115.4mil in the first quarter ended March 31, 2015 from RM38.6mil a year ago on the back of higher revenue for residential and industrial properties.

The company said on Tuesday revenue rose 135.8% to RM317.6mil in the quarter compared to RM134.6mil in the corresponding period a year ago.

Matrix Concepts  chairman Datuk Mohamad Haslah noted it was a bumper quarter due to quicker construction progress of its on-going residential projects in Bandar Sri Sendayan as well as accelerated payments by investors for industrial properties at Sendayan TechValley.

Moving forward, he said the company targets for investment properties segment to contribute 10% to the group revenue in the next five years.

“The group also noted revenue contribution of RM2.2mil from investment properties, comprising Matrix Global Schools and d’Tempat Country Club,” the company said.

On the other hand, revenue from the residential and commercial properties segment  jumped more than 120% to RM220.8mil, from RM99.6mil a year ago. Sales of industrial properties and land were RM94.6mil from RM35.1mil a year ago.

Haslah expected demand for residential properties to remain intact due to the population growth of Negeri Sembilan while Kuala Lumpur residents were buying properties in the Klang Valley region.

As at March 31, 2015, the group’s unbilled sales of RM392mil would last Matrix Concepts until 2017.

“In line with the positive results, the group today declared a first interim single tier dividend of 4.25 sen per share. The dividends will be paid to shareholders on 9 July 2015 based on the Record of Depositors on June 26, 2015,” Matrix Concepts said.