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- Overall, the property development segment’s contribution was up 25.9% to RM381.0 million, compared with RM302.6 million a year earlier.
KUALA LUMPUR (Nov 26): Seremban-based developer Matrix Concepts Holdings Bhd (KL:MATRIX) reported marginally higher earnings for the second quarter as higher project contributions and lower operating expenses offset product mix effects. New property sales for the quarter were up 19.1% to RM406.9 million.
Net profit for the second quarter ended Sept 30, 2025 (2QFY2026) came in at RM67.50 million, inching up marginally from RM67.42 million a year earlier, according to a filing with Bursa Malaysia. Revenue for the quarter, however, rose 23% year-on-year (y-o-y) to RM396.28 million from RM321.04 million, thanks to stronger property development billings.
The group said the subdued bottom line was primarily due to changes in its product mix, with a larger earnings contribution from its Levia Residences development project in Kuala Lumpur and the M333 St Kilda project in Australia. This was partly cushioned by tighter cost controls, including a 65.8% reduction in selling and marketing expenses to RM12.9 million, from RM37.8 million previously.
Overall, the property development segment’s contribution was up 25.9% to RM381.0 million, compared with RM302.6 million a year earlier. Meanwhile, the group’s other divisions registered mixed performances, with combined revenue falling 16.9% to RM15.3 million from RM18.4 million.
The hospitality segment posted RM6.5 million in revenue, down 9.2% y-o-y due to softer footfall and occupancy at its clubhouse and hotel. The education division grew 10.9% y-o-y to RM6.7 million following higher student enrolment, while the healthcare segment recorded a steep 60.5% y-o-y decline to RM2 million amid ongoing capacity expansion at Mawar Medical Centre.
Matrix Concepts declared a single-tier second interim dividend of 1.75 sen per share, with an ex-date of Dec 17 and payment on Jan 8, 2026. As at end-September, the group held RM57.59 million in cash and cash equivalents.
Matrix Concepts said it remains well positioned to sustain growth, supported by steady demand for its flagship Sendayan Developments in Negeri Sembilan. The township continues to attract Klang Valley homebuyers seeking affordable options outside the city, aided by improved road connectivity and the adoption of hybrid work arrangements.
Matrix Concepts is also banking on long-term value creation from its catalytic development, Malaysia Vision Valley City (MVV City), undertaken with the Negeri Sembilan government. Its proximity to the proposed High-Speed Rail corridor is expected to further enhance its appeal, the group noted.
The property developer expects future contributions from the Klang Valley to exceed 30% of group earnings over the long term. The group anticipates a healthy uplift in unbilled sales over the next 15 months, supported by planned launches exceeding RM800 million over the next two years.
For the first half ended Sept 30, 2025, Matrix Concepts reported a net profit of RM130.59 million, slightly higher than RM128.11 million a year earlier. Revenue grew 13.28% to RM680.56 million from RM600.76 million.
Shares in Matrix Concepts were unchanged at RM1.38 at the midday break on Wednesday, valuing the group at RM2.59 billion. Year to date, the stock has declined more than 13%.
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