Strong sales lift Matrix Concepts Q1 showing

Doing great: (From left) Matrix Concepts founder and group executive deputy chairman Datuk Seri Lee Tian Hock, Mohamad Haslah and group managing director Ho Kong Soon. The firm’s unbilled sales amounted to RM1.45bil as at June 30, providing earnings visibility over the next 15 to 18 months.

PETALING JAYA: Matrix Concepts Holdings Bhd’s net profit increased by 37.3% year-on-year (y-o-y) to RM64.6mil in the first quarter of financial year 2024 (1Q24), driven by strong demand for landed homes in its Sendayan Developments township in Negri Sembilan.

The property developer also reported that its revenue in 1Q24 rose by 44.6% y-o-y to RM331.4mil following accelerated construction progress, with the growth primarily attributed to Sendayan Developments.