Matrix Concepts Posts Slightly Higher 2Q Earnings as New Property Sales Climb to RM407 Million

Matrix Concepts Holdings Bhd recorded a modest improvement in its second-quarter results, supported by stronger property development billings and tighter cost management, even as its product mix weighed on profitability. For the quarter ended Sept 30, 2025 (2QFY2026), the developer achieved new property sales of RM406.9 million, marking a 19.1% year-on-year increase.

Financial Performance

The group’s net profit inched up to RM67.50 million, marginally higher than the RM67.42 million posted a year earlier. Quarterly revenue rose 23% y-o-y to RM396.28 million, driven primarily by accelerated progress in ongoing development projects.

Matrix Concepts said earnings were moderated by a shift in its product portfolio, with a larger contribution coming from its Levia Residences project in Kuala Lumpur and its overseas development in St Kilda, Australia. However, the group offset part of this impact through stricter cost controls, including a 65.8% reduction in selling and marketing expenses, which fell to RM12.9 million.

Its core property development division delivered RM381 million in revenue, up 25.9% from RM302.6 million previously. Other business segments posted mixed results, with combined revenue declining 16.9% to RM15.3 million.

Segmental Highlights

• Hospitality: Revenue slipped 9.2% y-o-y to RM6.5 million, largely due to weaker footfall at its clubhouse and hotel facilities.

• Education: Revenue increased 10.9% to RM6.7 million, supported by higher student enrolment.

• Healthcare: Revenue dropped sharply by 60.5% to RM2 million amid ongoing capacity expansion at Mawar Medical Centre.

Matrix Concepts announced a single-tier second interim dividend of 1.75 sen per share, with an ex-date of Dec 17 and payment scheduled for Jan 8, 2026. The group ended September with RM57.59 million in cash and cash equivalents.

Outlook and Strategic Positioning

The company remains confident in its growth trajectory, underpinned by resilient demand for its flagship Sendayan Developments in Negeri Sembilan, which continue to attract Klang Valley buyers seeking more affordable alternatives outside KL and Selangor. Improved connectivity and hybrid work arrangements have further reinforced this trend.

Matrix Concepts is also prioritising long-term value creation through its catalytic Malaysia Vision Valley City (MVV City) development, which is being undertaken in collaboration with the Negeri Sembilan state government. Its proximity to the proposed High-Speed Rail corridor is expected to lift future demand and strengthen the township’s commercial appeal.

The group anticipates that future contributions from the Klang Valley—particularly from residential, commercial, and industrial property projects in KL and Selangor—will eventually exceed 30% of total earnings. Planned launches of over RM800 million in the coming two years are expected to boost unbilled sales in the next 15 months.

For the first half of FY2026, Matrix Concepts reported a net profit of RM130.59 million, slightly above RM128.11 million a year earlier, while revenue grew 13.28% to RM680.56 million.

Matrix Concepts’ share price remained unchanged at RM1.38 at Wednesday’s midday close, valuing the company at RM2.59 billion. The stock has declined more than 13% year-to-date.