Mohamad Haslah (right) and group executive deputy chairman Datuk Seri Lee Tian Hock
KUALA LUMPUR: Matrix Concepts Holdings Bhd recorded resilient new sales of RM341.7mil in the second quarter ended Sept 30, 2024 (2QFY25), on the back of the group's second high-rise development, Levia Residence, in Kuala Lumpur.
The property developer said it is on track to achieving a targeted RM1.3bil in property sales in the current financial year.
According to chairman Datuk Mohamad Haslah Mohamad Amin, the group is seeing positive results from its strategy to diversify its revenue streams.
"While group revenue for 2Q25 was 10.7% lower year-on-year at RM321mil versus RM359.4mil previously due to lower revenue recognition from the group’s Sendayan Developments in Negeri Sembilan, the group saw a 71.4% surge in revenue from developments in the Klang Valley and Johor to RM16.8mil in 2Q25 from RM9.8mil previously," he said in a statement.
Additionally, revenue from the group’s education and hospitality segments collectively grew 46.2% to RM13.3mil in 2Q25 from RM9.1mil previously, attributed to improved performance in the education unit from increased student enrolment over the past year.
The group’s healthcare segment also contributed positively, with Mawar Medical Centre in Negeri Sembilan contributing
revenue of RM5.1mil during the quarter.
On bottomline, the group posted a net profit of RM67.42mil in 2QFY25, which was slightly higher than RM64.03mil in the previous corresponding quarter, for an earnings per share of 5.39 sen against 5.12 sen previously.
Over the six-month period, the group's net profit came to RM128.11mil, on a par with RM128.63mil in the year-ago quarter, while revenue was RM600.76mil, down from RM690.78mil in 1HFY25.
As at Sept 30, 2024, Matrix Concepts’ unbilled sales stood at RM1.32bil, providing strong visibility for future earnings recognition over the next 15 to 18 months.
The group declared a second interim dividend of 2.75 sen per share with the dividend ex-date on Dec 18, 2024, and the payment date on Jan 9, 2025.
