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Matrix Concepts Aims For Better FY18 With New Launches Worth RM1.4 Bln

Last update: 16/05/2017KUALA LUMPUR, May 16 (Bernama) -- Leading Negeri Sembilan property developer Matrix Concepts Holdings Bhd aims for greater heights with new launches worth RM1.4 billion slated for the current financial year ending March 31, 2018 (FY18).

Chairman Datuk Mohamad Haslah said that the group was set to perform commendably in FY18, underpinned by a strong lineup of new launches.

The company secured record high RM1.0 billion new sales on strong demand for affordable properties in FY17.

"Since listing in 2013, Matrix Concepts has proved our mettle and delivered sustainable profit. This has enabled us to consistently deliver quarterly dividend payments in line with growing profitability, as well as the announcement our third bonus issue exercise in a short span of four years which reflects our expanding scale of operations.

"We are confident of prospects in the future, and look forward to considerable growth in financial performance," he said in a statement today.

Matrix Concepts changed its financial year end from Dec 31 to March 31 starting FY17, thus there were no comparative figures for the fourth quarter of FY17 due to the change.

Its FY17 consists of twelve months from April 1, 2016 to March 31, 2017.

It recorded a higher net profit of RM187.8 million, up 28.9 percent, in FY17 from RM145.7 million in FY16 on the back of a higher revenue of RM780.4 million, up 31.2 per cent, versus RM594.6 million previously.

The company said the commendable performance was led chiefly by increased new sales of residential properties at its township developments of Bandar Sri Sendayan in Seremban, Negeri Sembilan, and Bandar Seri Impian in Kluang, Johor.

-- BERNAMA