6 days ago
Matrix Concepts FY25 sales up 10.4%
PETALING JAYA: Property developer Matrix Concepts Holdings Bhd recorded a 10.4% increase in new property sales to RM1.38bil for the financial year ended March 31, 2025 (FY25) compared to RM1.25bil reported in the previous financial year.
The company said this achievement was driven by robust market demand and increased new launches across its diversified development portfolio.
'In FY25, new property sales substantially exceeded the sales target of RM1.3bil, propelled by strong performance across its core township developments Sendayan Developments and Bandar Seri Impian, alongside its Klang Valley high-rise project, Levia Residences.
'The sales also notably included maiden industrial land sales from the highly anticipated Malaysia Vision Valley City (MVV City).'
Sendayan Developments, its flagship township, recorded RM1.04bil in sales, marking a 3.5% increase from RM1.01bil previously, as demand for its affordable-premium properties remained a mainstay.
Meanwhile, sales from Bandar Seri Impian rose 36.2% to RM71.9mil from RM52.8mil previously, while Klang Valley sales expanded 7.8% to RM151.2mil, propelled by Levia Residences.
Concurrently, the industrial segment recorded sales rising 134.2% to RM112.4mil compared to RM48mil previously, with RM90.9mil contributed by industrial land sales in MVV City.
'Of these launches, Sendayan Developments comprised 76.3% of new offerings, with the remaining 23.7% coming from Bandar Seri Impian, Levia Residences – Phase 2, and other developments.
'The collective take-up rate for FY25 launches stood at 73% as at March 31, 2025, reflecting robust buyer confidence,' said the company.
Group revenue for FY25 amounted to RM1.19bil, 11.2% lower from RM1.34bil previously, with the variance primarily due to the timing of launches and revenue recognition for properties sold in Sendayan Developments and Bandar Seri Impian.
This was partially mitigated by higher revenue from the Klang Valley, rising 182% to RM41mil from RM14.6mil previously.
The group's unbilled sales totalled RM1.46bil as at March 31, 2025, providing significant earnings visibility for the next 15 to 18 months.
In the fourth quarter ended March 31, 2025 (4Q25), the group recorded a dip of 13.6% in revenue to RM305.2mil from RM353.1mil previously due to delayed sales conversion, with deferred revenue recognition expected to normalise in the next three to six months.
The group's 4Q25 revenue performance was partially mitigated by strong recognition of RM18.7mil from its second high-rise development, Levia Residence in Cheras, Kuala Lumpur.
Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said: 'Matrix Concepts' FY25 performance definitively demonstrates the efficacy of our strategy, affirming our capability to consistently deliver value and enhance shareholder returns through sustained operational performance and growth.'
Looking ahead, Matrix Concepts said FY26 is positioned for transformative growth, supported by a launch target of RM1.6bil in gross development value (GDV) of new projects.
'These upcoming launches include the first phase of the MVV City's industrial land, a key catalyst for our next growth phase. Spanning 2,382 acres with a projected GDV of RM15bil, the MVV City development is poised to provide a clear earnings trajectory in the near term and reinforce our long-term confidence.'
The group also declared a fourth-quarter interim dividend of 1.35 sen per share in respect of FY25, representing 60.8% of 4Q25 profit after tax, with the dividend ex-date of June 20, 2025, to be paid on July 10, 2025.
