Matrix Concepts records strongest quarterly profit in 5 years

PETALING JAYA: Property developer Matrix Concepts Holdings Bhd has recorded its best quarterly earnings in five years with a net profit of RM75.1mil for its second quarter ended Sept 30.

This was a 27.8% jump year-on-year (y-o-y), which signalled a return to the group’s pre-movement control order (MCO) operating levels.

The Seremban-based developer attributed its strong rebound through revenue recognition of favourable product mix and expedited construction progress.

It said in a statement that it also benefited from optimistic sales and marketing costs in line with the adoption of digital marketing efforts. Matrix Concepts’ quarterly revenue came in at RM262mil, which was 7.3% lower y-o-y compared to the same quarter last year.