KUALA LUMPUR: Matrix Concepts Holdings Bhd's net profit rose 5.3 per cent to RM67.42 million in the second quarter ended Sept 30, 2024 (Q2FY25) from RM64 million in the same quarter last year due to improved gross margin.
The company said it is on track to reach its full-year target on the back of continued strong demand, particularly driven by Sendayan Developments.
Its gross profit margin improved to 49.8 per cent in the quarter under review from 43.6 per cent in the previous quarter, on the back of a favorable product mix.
Its net margin rose to 21 per cent in Q2FY25 due to gain on disposal amounting to RM11.5 million.
Group revenue for Q2FY25 slipped 10.7 per cent to RM321.04 million from RM359.35 million in the same period last year due to lower revenue recognition from its Sendayan Developments in Negri Sembilan.
For the cumulative six-month period, its net profit slipped to RM128.11 million versus RM128.63 million in the corresponding period last year.
The company posted a lower revenue of RM600.76 million versus RM690.78 million a year ago.
The property development division saw a 15.7 per cent decline in revenue to RM566.2 million due to recognition affected by timing of launches, from RM671.5 million in the previous year.
Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said the company continued to diversify its income streams and expand into high-growth sectors like education, healthcare, and affordable housing.
"Looking ahead, our strong track record and robust pipeline of projects positions us well to capitalise on future growth opportunities.
"We will continue to pace our launches strategically in line with current housing demands, strengthen our presence across Negri Sembilan, Klang Valley, and Johor, and leverage our strong branding for our affordably priced and premium quality properties," he said in a statement.
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 Dec 18, 2024 and the payment date on Jan 9, 2025.