Matrix Concepts Posted Lower Net Profit at RM50.57 Mil

The property development and investment holding company’s net profit for the second quarter ended Sept 30, 2022 was slightly lower at RM50.57 million from RM51.8 million posted in the same period last year.

Revenue for the period under review declined 7.2% to RM222.35 million compared to RM239.48 million posted last year.

“Revenue remained relatively healthy despite the continued challenges posed by the shortage in labour supply that has affected construction activities, particularly in the past 12 months,” as the filing with Bursa Malaysia stated.

Residential properties remain the group’s strongest provider, contributed 93.1% or RM207 million of the group’s revenue for the quarter as homebuyers remain attracted by the value proposition of the group’s product offerings.

Revenue from both commercial and industrial properties was significently lower by 85.9% at RM5.3 million as a result of lower commercial product launches during the current financial year as well as limited industrial product inventory as its Sendayan Tech Valley development approaches its conclusion.

A single-tier second interim dividend of 2 sen per share has been declared with entitlement date on Dec 23 and payment date on Jan 12, 2023.

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