SEREMBAN (May 25): Property developer Matrix Concepts Holdings Bhd has recorded a net profit of RM259.9 million in the financial year ended March 31, 2021 (FY2021), an increase of 9.5% from RM237.4 million in the previous year.

In a media statement today, the company said the group recorded a commendable net profit margin of 23% in FY2021, among the highest in the property sector, as well as five-year highs in net profit for the past three consecutive quarters. 

“This was supported by expedited construction activities following the upliftment of the initial movement control order in May 2020, favourable product mix, lower sales and marketing expenses, and adjustment in tax provisions,” said the statement.

The improved performance was achieved on the back of resilient revenue of RM1.1 billion in FY2021, as the Group swiftly adapted to the new normal and regained momentum in its progress billings to pre-pandemic levels.

Better reach and engagement among property buyers due to the Group’s adoption towards online sales allows them to register new property sales amounting RM1.2 billion, an increase by 16.7% from RM1.0 billion in the previous year. 

Although the residential and commercial properties saw a drop from RM1.15 billion to RM994.1 million, the industrial properties sales increased from RM89.8 million to RM104 million. The Group’s investment properties recorded a drop in revenue at RM29.6 million from RM37.9 million.

As of March 31 2021, Matrix Concepts has an unbilled sales of RM1.02 billion.

Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said the healthy progress of the ongoing developments, coupled with RM1.6 billion worth of new property launches planned for FY2022, will support the company’s future growth.

Matrix Concepts is also one of the recipients of the EdgeProp Malaysia’s Responsible Developer: Building Sustainable Development Award 2021 at Edgeprop Best Managed and Sustainable Property Awards 2021 (BMSPA 2021). 

It is also inducted into Malaysia Developers’ Hall of Fame where membership is exclusively accorded to winners of EdgeProp Malaysia’s Responsible Developer introduced in 2018.

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