Matrix Concepts Hits RM115m For Net Profit
- Matrix Concepts Holdings‘ net profit surged nearly 200 percent to RM115.4 million in 1Q15. Revenue also rose 135.8 percent to RM317.6 million, underpinned by higher revenue for residential and industrial properties.
- The group believes that it was a bumper quarter due to quicker construction progress of its on-going residential projects in Bandar Sri Sendayan as well as accelerated payments by investors for industrial properties at Sendayan TechValley.
- The company targets for investment properties to contribute 10 percent to the group revenue in the next five years while noting revenue contribution of RM2.2 million from investment properties, comprising Matrix Global Schools and d’Tempat Country Club.
Significance: Demand for residential properties is expected to remain intact due to the population growth of Negeri Sembilan while Kuala Lumpur residents were buying properties in Klang Valley region. The group’s unbilled sales of RM392 million can last the group until 2017 as at 31 March 2015.
Source: Shares Investment