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KUALA LUMPUR (Aug 26): Builder Matrix Concepts Holdings Bhd has recorded higher pre-tax profit of RM70.44 million for first quarter ended June 30, 2016 (1Q17) from the RM41.35 million recorded in the corresponding three-month period ended June 30, 2015 (2Q16), while revenue grew 62.9% to RM196.23 million from RM120.44 million previously, Bernama reported yesterday.
The company changed its financial year-end from Dec 31 to March 31.
In a statement yesterday, Matrix Concepts said the strong performance was mainly the result of higher revenue from the sales of both residential and commercial properties, Bernama reported.
The group’s new property sales for 1Q17 stood at RM256 million, significantly higher than RM210.5 million recorded in 2Q16, mainly from good demand among its developments of Bandar Sri Sendayan in Seremban and Bandar Seri Impian in Kluang, Johor, it said.
The company also said its unbilled sales are at RM690.6 million as at June 30, 2016, an increase from RM621.4 million as at March 31, 2016, Bernama reported.
For the remainder of FY2017, Matrix Concepts is set to launch new projects worth gross development value (GDV) of RM700 million, the bulk of being affordably-priced homes, it said.
Matrix has launched projects worth more than RM400 million in GDV in 1Q17.
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