Matrix Concepts 2Q net profit rises 11%, declares 3 sen dividend

KUALA LUMPUR (Nov 20): Matrix Concepts Holdings Bhd's net profit for the second quarter ended Sept 30, 2019 rose 10.9% to RM58.74 million from RM52.94 million a year earlier, due mainly to the higher revenue recognition from the group's Sendayan development project and its maiden high-rise property development Chambers Kuala Lumpur.

In a filing today, the developer said revenue for the quarter rose to RM282.73 million from RM253.31 million previously.

Earnings per share rose to 7.39 sen from 7.04 sen.

Matrix Concepts declared an interim dividend of 3 sen per share, payable on Jan 8, 2020.

For the six months ended Sept 30, its net profit rose 10% to RM113.39 million from RM103.09 million in the prior year. Revenue was higher at RM531.23 million compared to RM483.35 million in the year-ago period.

In a separate statement, Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said the group continued to deliver strong sales and is on track to achieve its full year new sales target for FY20, supported by strategically-timed and carefully selected launches.

"In the next phase of our growth plans, we aim to enhance the Matrix Concepts brand beyond our origins in Negeri Sembilan, as we embark on expanding our footprint in Klang Valley and Australia.

"Additionally, the upcoming launch of the prestigious Menara Syariah Twin Towers in Jakarta is testament to our commitment towards sustained growth for the long term," he said.

At the midday break, Matrix Concepts shares dipped 0.52% or 1 sen to RM1.93 for a market capitalisation of RM1.59 billion.