KUALA LUMPUR: Matrix Concepts Holdings Bhd
posted higher net profit of RM62.94mil for its first quarter ended June 30 (1Q26), versus RM60.7mil a year ago, driven by resilient revenue, reduction in selling and marketing expenses and a lower effective tax rate due to previously non-recognised deferred tax assets.
The property developer continued to deliver above industry net margin of 22.1% in 1Q26, compared to previous year’s 21.7% as it remained focused on streamlined cost management and operational efficiency.
Revenue rose to RM284.28mil from RM279.72mil previously, primarily due to higher revenue recognition from the property development segment, it said in a filing with Bursa Malaysia yesterday.
The property developer said the higher revenue was driven by the continued encouraging performance of its second high-rise development in Kuala Lumpur, Levia Residence, which recorded revenue of RM26.6mil during the first quarter.
It reported a 18.8% growth in new property sales to RM381.5mil in 1Q26, from RM321.3mil a year ago, driven by contribution from its flagship Sendayan developments and its Malaysia Vision Valley (MVV) City projects in Negri Sembilan.
“The groundwork we have laid in recent years has created the platform for this next chapter.
“In our financial year 2026 (FY26), we will see the first revenue contribution from our transformative MVV City development, which has already drawn strong demand for its initial industrial offerings.
“Together with the completion of the Horizon L&L acquisition, we are poised to expand our presence in the Klang Valley with exciting new launches, further enriching and diversifying our portfolio,” its chairman Datuk Mohamad Haslah Mohamad Amin said in a statement.
The company said it is well-positioned to deliver continued growth, supported by resilient demand, particularly for its flagship Sendayan Developments in Seremban, Negri Sembilan. Its robust performance has translated into a strong outlook, supported by unbilled sales totalling RM1.49bil as of Mar 31, providing healthy earnings visibility for the next 15 to 18 months.
“Looking ahead, our pipeline of thoughtfully designed, affordably priced, and high-quality developments across Seremban, the Klang Valley, and Johor – anchored by the MVV City project – provides a clear pathway towards achieving our FY26 sales target and ushering in a new era of accelerated growth.
“At the same time, our strategic ventures in Australia and Indonesia, combined with the growing contributions from our education and healthcare platforms, are shaping a more resilient and diversified business,” Mohamad Haslah added.
Matrix has declared a single tier first interim dividend of 1.75 sen per share, which will be paid on Oct 9, 2025.
