Matrix Concepts posts RM234.3mil net profit in FY20

  • Corporate News
  • Thursday, 09 Jul 2020

KUALA LUMPUR: Matrix Concepts Holdings Bhd recorded a net profit of RM234.3mil in its 2020 financial year ended March 31, a 7.3% increase over the previous year on the back of improved contribution from its residential and industrial properties.

The group declared a fourth interim single-tier dividend of 2.5 sen per share, bringing total payout in the financial year to 11.5 sen per share, or about 40.6% of FY20 net profit.

According to Matrix chairman Datuk Haji Mohamad Haslah Mohamad Amin, the group expects a "challenging yet fruitful" FY21, and remains committed to a dividend payout of 40% of its net profit to shareholders.

The property developer said in a statement that revenue for the year hit a record RM1.28bil, which was 22.6% over the previous year due to increased progress billings from its properties in Sendayan Developments in Negeri Sembilan.

There was improved performance across the group's segments with contribution from residential and commercial properties increasing to RM1.15bil from RM860.4bil previously while sales of industrial properties rose to RM89.8mil from RM60.6mil.

Meanwhile the group's investment properties posted a higher revenue contribution of RM37.9mil from RM33.2mil last year.

In FY20, Matrix's ongoing gross development value came to RM2.53bil while its unbilled sales stood at RM1.02bil, which it said will sustain earnings for the next 15 months.

Moving forward, the group targets to launch RM1.04bil of residential properties in FY21.

"To cater for the growing acceptance and resilient demand at our townships, we have increased our landbank by 750 acres in FY2020, to support our growth for the next seven to ten years.

"Coupled with our healthy balance sheet owing to our prudent policies, we are confident of weathering the uncertainties posed by Covid-19 and delivering commendable performance in FY2021," said Mohamad Haslah.
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