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NewsUpdate Matrix Concepts 1Q profit falls 16% y-o-y, pays 5 sen dividend
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Update Matrix Concepts 1Q profit falls 16% y-o-y, pays 5 sen dividend
by Cals Wed 21 May 2014, 17:15
| Update Matrix Concepts 1Q profit falls 16% y-o-y, pays 5 sen dividend |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Wednesday, 21 May 2014 13:00 KUALA LUMPUR (May 21): Property developer Matrix Concepts Holdings Bhd's net profit fell 16% to RM38.6 million in the first quarter ended March 31, 2014 from RM46 million a year earlier. In a statement to the exchange today, Matrix Concepts said revenue was lower at RM134.7 million versus RM155.6 million. "The decline in the group’s operating results for the current quarter under review as compared to the preceding year’s corresponding quarter was partly because the group’s Hijayu 1A (Phase 1) development project had yet to reach a particular stage of completion for the recognition of revenue. "The decline in revenue generated had also caused a corresponding decrease in the profit before tax achieved for the current financial quarter under review," Matrix Concepts said. Despite the lower profit, the firm said it planned to pay a first interim single-tier dividend of five sen a share for the quarter in review. |
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