Matrix Concepts sees 25% y-o-y rise in 3Q net profit

by **Cals** Mon 17 Nov 2014, 17:46

Matrix Concepts sees 25% y-o-y rise in 3Q net profit
KUALA LUMPUR (Nov 17): Matrix Concepts Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw a 25% year-on-year (y-o-y) rise in net profit for its third quarter ended September 30, 2014 (3QFY14), backed by higher property sales during the quarter.
In a filing with the bourse, Matrix said net profit rose to RM45.1 million from RM36.2 million previously. Meanwhile, revenue for rose to RM148.8 million compared to RM12.7 million
Matrix attributed its improved results to the group’s sales of residential and commercial development properties, which commanded a better profit margin compared to margins from land sales.
The group announced an interim single-tier dividend of 3.75 sen a share for 3QFY14. Matrix shares will trade ex-dividend on December 22 this year.
For the cumulative nine-month period, Matrix’s net profit climbed to RM126.1 million, from RM112.2 million a year earlier. Revenue increased to RM447.3 million from RM430.3 million.
Going forward, Matrix is confident of sustaining its profitability, supported by new property launches and continuous sales of current projects.
“The group is currently focused on the development of its township development projects in Bandar Sri Sendayan in Seremban, Negeri Sembilan and Taman Seri Impian in Kluang, Johor,” it said.
Matrix said it planned to launch its Hijayu 3A (Phase 4) development in Bandar Sri Sendayan in the fourth quarter of its current financial year.
The group said the expected launch of its d’Tempat Country Club clubhouse and also the Matrix Global Schools would add value to its Bandar Sri Sendayan township.
At about 2.45pm, Matrix shares traded unchanged at RM2.88 for a market capitalisation of RM1.32 billion.