by TMR

Matrix Concepts Holdings Bhd posted a net profit gain of 10.1% year-on-year (YoY) to RM50.15 million for its first quarter (1Q) ended June 30, 2018, attributed to its broader revenue base.

In a filing to Bursa Malaysia yesterday, the property developer said its product mix comprised more affordable priced properties and fewer premium developments.

Turnover for the quarter rose by 33.1% YoY to RM230.04 million due to higher sales of its residential and commercial properties. As at June 30, 2018, the group’s unbilled sales grew 28.6% YoY to RM1.2 billion.

Revenue contribution from its investment properties such as Matrix Global Schools, d’Tempat Country Club and d’Sora Business Boutique Hotel amounted to RM10.1 million, an increase of 21.8% YoY or RM1.8 million on higher student enrolments, increased spending by club members and increased occupancy rates of the hotel.

The company is optimistic of demand for its properties backed by its strong track record and sales performance.

As at June 30, 2018, its gross development value stood at RM2.3 billion. Matrix declared a first interim single tier dividend of 3.25 sen per share held for the financial year ended March 31, 2019, to be paid on Oct 10.