KUALA LUMPUR: Leading Negri Sembilan township developer Matrix Concepts Holdings Bhd ended its year ended March 2019 on a high note, with an annual revenue reaching a record-high of RM1 billion mark for the first time.
Matrix chairman Datuk Mohamad Haslah Mohamad Amin said its net profit for the fourth quarter surged 50 per cent to RM65.9 million from RM43.9 million a year ago, riding on its new property launches.
Net profit for the full-year climbed marginally to RM217.5 million from RM213.2 million in 2018.
"Overall, Matrix delivered its best ever revenue of RM1.05 billion in 2019, which represented a 28 per cent growth from RM818.5 million in 2018,” Mohamad Haslah said.
The improved performance was mainly due to higher revenue recognition from residential developments at the Bandar Sri Sendayan township in Seremban, as well as from commercial and investment properties.
Mohamad Haslah said there was still immense potential in the property development sector, as long as homebuyers needs for affordability, quality and locality are met.
The company has lined up another RM1.3 billion worth of new properties to be launched in 2020 comprising a carefully-tailored mix of affordable and premium range products.
“We are positive on our prospects for 2020 and are confident that these launches will help us sustain our financial performance and returns to shareholders,” he said.
Matrix declared a fourth interim single tier dividend of 3 sen and special dividend of 0.25 sen per share in respect of 2019.
Together with earlier paid interim dividends in respect of 2019, total dividends to date amount to 12.75 sen per share with estimated payout of RM97.1 million, making up 44.6 per cent of 2019 net profit.