Matrix Concepts has unbilled sales of RM1.2bil


Matrix Concepts Holdings Bhd founder and group executive deputy chairman Datuk Seri Lee Tian Hock (left) and chairman Datuk Mohamad Haslah Mohamad Amin (right).

KUALA LUMPUR: Matrix Concepts Holdings Bhd’s unbilled sales of RM1.2bil as at Dec 31, 2023, will provide solid earnings visibilities for the group.

In a statement, the developer said the unbilled sales are set to be recognised over the next 15 to 18 months.

In the third quarter ended Dec 31, 2023 (3Q24), Matrix registered new property sales of RM345.3mil in 3Q24 compared to RM340.3mil previously, with Sendayan Developments contributing RM231.1mil.

At the same time, the group’s recently launched, second Klang Valley Development, Levia Residence, secured RM97.9mil worth of new sales within three months of its launch.

In 3Q24, Matrix Concepts recorded a higher net profit of RM57.2mil, up from RM54.4mil in the same quarter a year earlier, representing a basic earnings per share of 4.57 sen as compared to 4.35 sen previously.

Revenue, however, dipped to RM296mil from RM363.8mil in 2QFY23.

The group declared a third interim dividend of 2.5 sen per share in respect of the financial year ending March 31, 2024 (FY24), with the dividend ex-date on March 21 and the payment date on April 3.

Together with the first and second interim dividend of 2.5 sen each, the cumulative nine months ended Dec 31, 2023 (9M24) dividend per share stands at 7.5 sen with a total payout of RM93.9mil or 51.1% of 9M24 profit after tax (PAT).

The group’s net profit grew by 22.3% to RM185.9mil in 9M24 from RM152mil in the previous financial period, on a 21.0% higher revenue of RM986.8mil from RM815.4mil in the same period.

The group’s new property sales in 9M24 remained healthy at RM961.4mil versus RM1bil previously.

Meanwhile, the group launched eight projects worth RM978.6mil at Sendayan Developments in 9M24, which comprised 1,338 double-storey terrace houses, 14 double-storey bungalows, and a serviced apartment with 389 units in the Klang Valley.

“Matrix Concepts has established a robust foothold in Negeri Sembilan, Klang Valley, and Johor, while also extending our influence globally with successful ventures in Indonesia and Australia.

"Our new property sales for 9M24 position us on track to hit our target of RM1.3bil new sales for FY24,” chairman Datuk Mohamad Haslah Mohamad Amin said in a statement.

“We have demonstrated improved financial performance and resilience despite the challenges of higher building material prices and inflated logistical costs. This substantiates our commitment to declare dividends, with the payout in 9M24 higher by 25% compared to the same period last year.”

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