KUALA LUMPUR: Matrix Concepts Holdings Bhd secured RM354.3mil in new property sales in the third quarter of its 2025 financial year, a 2.6% increase from a year ago on resilient demand for its affordably priced developments.
During the quarter, the property developer registered a dip in net profit to RM43.32mil from RM57.24mil in the year-ago quarter.
The group said revenue fell to RM280.93mil in 3QFY25 from RM295.98mil in the comparative quarter due to a delay in revenue recognition from Sendayan Developments in Seremban, Negeri Sembilan and Bandar Seri Impian in Kluang, Johor.
"The deferred recognition is expected to be recouped in the upcoming quarters," it said in a statement announcing its results.
Additionally, it said the lower profit also reflects increased administrative and general expenses, and higher finance costs associated with the land acquisition of its upcoming Malaysia Vision Valley City (MVV City) development.
As at Dec 31, 2024, Matrix Concepts’ unbilled sales stood at RM1.42bil, 21.1% higher year-on-year, providing earnings visibility for the next 15 to 18 months.
For the nine months period to Dec 31, 2024, the group registered a net profit of RM171.43mil, down from RM185.87mil in 9MFY24, while revenue dropped to RM881.69mil from RM986.76mil in the year-ago period.
The group highlighted that gross profit margin improved significantly to 50.6% in 9MFY25 from 47.5% in the prior year, due to favorable product mix that included recognition of industrial property developments.
Matrix Concepts declared a third interim dividend of 1.35 sen per share, with dividend ex-date on March 21, 2025, and payment date on April 10, 2025.
“Our focus on operational efficiency and the expanding contributions from our diversified business segments have strengthened our financial position.
"This has enabled us to generate robust earnings and reward shareholders with consistent dividends," said chairman Datuk Mohamad Haslah Mohamad Amin.
