PETALING JAYA: Property developer Matrix Concepts Holdings Bhd
has maintained its positive sales trend in its third quarter ended Dec 31, 2024 (3Q25), securing RM354.3mil in new property sales.
The figure represented a 2.6% year-on-year (y-o-y) increase, attributed to resilient demand for the group’s affordable premium property developments.
Matrix Concepts posted a net profit of RM43.3mil in 3Q25 compared with RM57.2mil in the previous corresponding quarter, while revenue stood at RM280.9mil compared with RM296mil previously.
In a statement, the group said the results were primarily due to a delay in revenue recognition from Sendayan Developments in Seremban, Negri Sembilan and Bandar Seri Impian in Kluang, Johor.
“The deferred recognition is expected to be recouped in the upcoming quarters. The lower profit also reflects increased administrative and general expenses, and higher finance costs associated with the land acquisition of its upcoming Malaysia Vision Valley City development,” it added.
Concurrently, revenue performance was partially mitigated by strong recognition of RM14.3mil from Matrix Concepts’ second high-rise development Levia Residence in Cheras, Kuala Lumpur.
Revenue from the group’s education and hospitality segments showed positive growth collectively increasing by 39.3% to RM13.7mil in 3Q25 from RM9.8mil a year earlier, attributed to better performance in the education unit.
As at December 2024, Matrix Concepts’ unbilled sales stood at RM1.42bil, 21.1% higher y-o-y, which the group said provides strong visibility for future earnings recognition over the next 15 to 18 months.
Group revenue for the nine months ended Dec 31, 2024 amounted to RM881.7mil, a decrease of 10.6% from RM986.8mil previously, which it said was due to lower contribution from the property development division due to the timing of launches and revenue recognition.
Other business units, including education and hospitality, recorded a 33.3% increase in revenue to RM38.8mil in 9M25, while its healthcare segment recorded revenue of RM12.2mil during the same period.
Notably, Matrix Concepts saw a jump of 50.6% y-o-y in gross profit margin for 9M25, on the back of a favourable product mix that included recognition of industrial property developments.
The improved margins contributed to a healthy net profit of RM171.4mil in 9M25, compared with RM185.9mil previously.
It has declared a third interim dividend of 1.35 sen per share for the financial year ending March 31, 2025, representing 58.3% of 3Q25 net profit, with the dividend ex-date on March 21 and payment on April 10.
Cumulative 9M25 dividend per share stood at 4.85 sen, after adjusting for bonus issue, with a total payout of RM91mil or 52.5% of 9M25 net profit, in line with its dividend policy of distributing at least 50% of its annual net profit to its shareholders
Chairman Datuk Mohamad Haslah Mohamad Amin said: “Our focus on operational efficiency and the expanding contributions from our diversified business segments have strengthened our financial position.”
