Wednesday, 23 May 2018

(NST) Matrix Concepts posts higher net profit in 2018

KUALA LUMPUR: Matrix Concepts Holdings Bhd’s net profit for the financial year ended March 31, 2018 rose 14.3 per cent to RM211.83 million from RM185.28 million a year ago.

Revenue also increased 4.8 per cent to RM812.29 million from RM774.98 million previously, due to higher revenue recognition from the group’s developments, it said in a statement today.

The group also achieved better margins from the sales of premium residential and industrial properties.

Its Chairman, Datuk Mohamad Haslah Mohamad Amin, said Matrix Concepts had lined up RM1.6 billion worth of new property launches for FY2019, substantially more than the RM1.2 billion set for FY2018.

“We are confident of sustaining our momentum in light of unabated demand for our properties in Negeri Sembilan and Johor, supported by highly positive buyers’ response to our recent launches.

“Recently, we also launched Tiara Sendayan 1 in Seremban, comprising 404 units of houses with a gross development value of RM150.6 million,” he said.

Mohamad Haslah said the project garnered strong buying interest due to its affordability and was sold out within a week.

“As such, we are optimistic that our subsequent launches will perform similarly, as demand for homes with similar levels of affordability, quality, and locality remains robust,” he added.

A fourth interim single tier dividend of 3.50 sen per share has been declared for FY2018.

“Together with interim dividends paid earlier, total dividends to date will amount to 12.85 sen per share,” it added.