BUSINESS

MATRIX CONCEPTS' Q3 NET PROFIT RISES TO RM75.34 MLN

25/02/2021 03:14 PM

KUALA LUMPUR, Feb 25  -- Matrix Concepts Holdings Bhd’s net profit in the third quarter ended Dec 31, 2020 (Q3 2021) increased to RM75.34 million from RM65.33 in Q3 2020, underpinned by revenue growth on the back of increased property development activities.

Its revenue also improved by 13.1 per cent to RM315.41 million from RM278.96 million previously, it said in a filing with Bursa Malaysia today. 

The group said its property development segment contributed RM307.7 million in revenue for the quarter, an increase of 14.2 per cent from RM269.5 million previously.

"The property sales and marketing activities remained robust and recorded new property sales of RM263.2 million in Q3 2021, assisted by virtual communication tools as well as online sales and marketing channels -- effectively overcoming restrictions associated with physical sales and marketing activities," it said. 

Meanwhile, revenue contribution from the group's investment properties -- Matrix Global Schools, d'Tempat Country Club and d'Sora Business Boutique Hotel -- declined by RM1.8 million in Q3 2021 to RM7.7 million from RM9.5 million in Q3 2020.

On prospects, Matrix Concepts said it remained focused on improving township developments in Bandar Sri Sendayan, Ara Sendayan and Tiara Sendayan in Negeri Sembilan, and Bandar Seri Impian in Kluang, Johor. 

"This includes improving amenities and infrastructure to support better and more vibrant community living, as well as land banking efforts to expand our future pipeline," it added.

The group has also embarked on a steady diversification of its revenue stream beyond Negeri Sembilan and Johor by expanding its domestic and international project portfolio to include developments in Klang Valley, as well as in Melbourne, Australia and Jakarta, Indonesia. 

-- BERNAMA

 

 


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