PROPERTY developer Matrix Concepts Holdings Berhad posted a 5.3% year-on-year increase in net profit to RM67.4 million for the second quarter ended 30 September 2024 (2Q25) from RM64.0 million in the previous corresponding quarter.
It is now on track to reach its full-year target on the back of continued strong demand, particularly driven by its Sendayan Developments.
The Group achieved a significant improvement in the 2Q25 gross profit margin to 49.8% from 43.6% in the previous quarter, on the back of a favourable product mix that included recognition of industrial property developments.
Net margin rose to 21.0% in 2Q25 from 17.8% previously, attributed to an increase in other income due to a gain on disposal amounting to RM11.5 million.
As of September 30, 2024, Matrix Concepts’ unbilled sales stood at RM1.32 billion, providing strong visibility for future earnings recognition over the next 15 to 18 months.
The Group declared a second interim dividend of 2.75 sen per share in respect of the financial year ending March 31, 2025, with the dividend ex-date on 18 December 2024 and the payment date on January 9, 2025.
The cumulative 1H25 dividend per share stands at 5.25 sen with a total payout of RM65.7 million or 50.6% of 1H25 profit after tax (PAT). - November 29, 2024
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