Matrix Concepts plans RM660m projects after strong FY13 earnings

Matrix Concepts plans RM660m projects after strong FY13 earnings

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Publish date: Wed, 26 Feb 2014, 04:43 AM
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KUALA LUMPUR: Negeri Sembilan property developer Matrix Concepts Holdings Bhd's earnings rose 47.7% to RM152.89mil in the financial year ended Dec 31, 2013 (FY13) from RM103.50mil a year ago.
 
The company said on Tuesday group revenue increased 26% to RM574.66mil in FY13 from RM456.10mil, due to strong demand for residential, commercial and industrial properties in its integrated Bandar Sri Sendayan township development in Seremban.
 
"Unbilled sales as at Dec 31, 2013 stood at RM437.0mil, which will sustain the group till 2015," it said.
 
In Q4 ended Dec 31, 2013, it reported earnings of RM40.66mil on a turnover of RM144.33mil. EPS were 13.5 sen. It proposed a dividend of 5 sen a share.
 
Maxtrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said despite the increasingly challenging property sector in 2013, its properties in Bandar Sri Sendayan in Seremban and Taman Seri Impian in Kluang continued to be in high demand, mainly due to the affordable prices.
 
"This is evidenced in the group's total sales for the year, as we sold a record RM788mil worth of properties in FY2013, 15% more than RM686mil a year earlier.
 
"We are confident that affordable homes will still very much be sought after. Hence, we target to launch RM660mil gross development value (GDV) worth of projects in Negeri Sembilan and Johor in FY2014.
 
"These new launches, coupled with our ongoing projects worth up to RM840mil GDV, will not only keep the group busy in FY2014, but also position us for another good year."
 
Source : http://www.thestar.com.my/Business/Business-News/2014/02/25/Matrix-Concepts-plans-RM660m-projects-after-strong-FY13-earnings/
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