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KUALA LUMPUR: Matrix Concepts Holdings Bhd saw its net profit grow 28.9% to RM187.8mil in the financial year ended March 31, 2017, from RM145.7mil in the corresponding period a year ago.
In a statement Tuesday, Matrix Concepts said the performance came on the back of 31.2% higher revenue of RM780.4mil against RM594.6mil previously, led chiefly by increased new sales of residential properties at its township developments of Bandar Sri Sendayan (BSS) in Seremban, Negeri Sembilan, and Bandar Seri Impian (BSI), in Kluang, Johor.
“We achieved record high new sales of RM1bil in FY2017, combined with a high take-up rate of above 80% across our ongoing developments. Compared to new sales of RM817.4mil previously, the sales uptrend of 26.1% year-on-year points to strong demand for our properties despite a challenging market,” chairman Datuk Mohamad Haslah Mohamad Amin said in the statement.
He said the group had put in much effort to increase the vibrancy of its townships, especially in BSS where it enhanced various lifestyle elements like a recreational park and commercial properties to serve the growing community.
“For the current FY18, we are aiming for greater heights with RM1.4bil worth of new launches. With the majority consisting of affordably-priced residential homes together with full scale township amenities, we are confident of maintaining strong sales performance going forward,” Mohamad Haslah said.
As at March 31, the group had RM1.9bil worth of ongoing development projects, significantly higher from RM1.5bil last year. Unbilled sales climbed to RM859.5mil as at March 31 from RM621.4mil previously, to be recognised until 2019.
For the fourth quarter ended March 31, Matric Concepts recorded revenue and net profit of RM161.3mil and RM39mil respectively, declining 23.6% and 18.1% respectively from the corresponding period last year.
It said this was due to lower revenue from both commercial and industrial properties during the quarter under review as a significant portion of the progress billings would only be recognised after 4Q17.
Matrix Concepts declared a fourth interim dividend of 3.75 sen per share in respect of FY2017, with ex-date on June 2 and payable on June 20.
Together with earlier-paid interim dividends of 3.25 sen, 3.25 sen and 3.50 sen per share respectively, total estimated payout would stand at RM78.7mil or 42.1% of FY17 net profit. The group has a dividend policy to distribute 40.0% of net profit to shareholders.
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