Matrix Concepts’ Q1 net profit soars 37% to RM64.6mil

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Matrix Concepts’ Q1 net profit soars 37% to RM64.6mil
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The improvement is driven by faster construction activity, resolved labour shortages.

Matrix Concepts Holdings Bhd’s property development segment rose by 46.4% to RM321.3 million in Q1 FY2024.

Revenue from the property development segment substantially increased by 46.4% to RM321.3 million in the current quarter from RM219.4 million previously. Matrix anticipates ongoing benefits from the strong demand trend ahead, particularly on its flagship Sendayan Developments – which are Bandar Sri Sendayan, Ara Sendayan and Tiara Sendayan in Negeri Sembilan, as well as Bandar Seri Impian in Kluang, Johor.

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