Wednesday, November 20, 2013

Matrix 9MFY13 net profit surpasses 2012

Matrix 9MFY13 net profit surpasses 2012
Wednesday, 20 November 2013
KUALA LUMPUR: With its technology park in Negeri Sembilan receiving an encouraging response from foreign investors, Matrix Concepts Holdings Bhd’s net profit for the nine months ended September of the 2013 financial year ending December (9MFY13) has surpassed the whole of FY12.

Revenue for the period stood at RM430.3 million, slightly lower than the RM456.1 million recorded for the whole of FY12.

The company is rewarding its shareholders by declaring a third interim single tier dividend of five sen and a special dividend of five sen.

Together with the first and second interim dividends of 10.1 sen and 5.3 sen paid on July 8 and Oct 10 respectively, the group has declared total net dividends of 25.4 sen or a total payout of RM76.3 million.

This payout constitutes 68% of the group’s net profit in respect of the nine-month results. Matrix has a dividend policy of paying at least 40% of group net profit to shareholders.

Chairman Datuk Mohamad Haslah Mohamad Amin said in a statement yesterday that Matrix’s positive performance for 9MFY13 was reflected in the rising take-up of its industrial properties and residential projects.

“We are also encouraged by the fact that our residential properties have attracted not only property buyers from Negeri Sembilan, but also from the Klang Valley who now make up 40% of our buyer profile. This is a significant rise from just 5%, three years ago,” he said.

Mohamad Haslah said the company is elated by its record performance thus far. “We believe that this will serve as a timely confidence boost to the group as we target to end our first year as a listed entity on a high note,” he said.

Matrix’s Sendayan TechValley has contributed to the group’s improved performance for FY13 by attracting foreign direct investments (FDI) of RM2.7 billion to date. The technology park is the 1,000 acre (404.6ha) industrial component within the group’s flagship integrated township of Bandar Sri Sendayan in Seremban.

The technology park’s most recent FDI was from the Weir group, which signed a deal to purchase a 55 acre industrial property for RM59.6 million. The UK-based group has committed about RM350 million to constructing a factory to manufacture specialised equipment for the mining industry.

In a filing with Bursa Malaysia yesterday, Matrix said its net profit for the third quarter (3Q) ended Sept 30 was RM36.2 million, against RM30 million for 2Q and RM45.98 million for 1Q. Revenue for 3Q, which totalled RM127.4 million against RM147.3 million for 2Q, decreased due to higher revenue recognition of the residential properties sold for its Hijayu 1B development in Bandar Sri Sendayan in 2Q.

For the first nine months, sales of residential and commercial properties contributed the most to group revenue at RM287 million or 66.7%. Industrial properties contributed RM119.6 million or 27.8%, while sales of land totalled RM23.7 million or 5.5%.

Group earnings per share (based on an enlarged capital of 300.7 million ordinary shares) for the nine months was 37.3 sen.

This article first appeared in The Edge Financial Daily, on November 20, 2013.

Publish date: 20/11/13

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