KUALA LUMPUR (May 28): Matrix Concepts Holdings Bhd (KL:MATRIX) posted its highest-ever annual revenue in the financial year ended March 31, 2026 (FY2026), supported by stronger property development contributions and new project launches, although quarterly earnings softened on margin pressure.

In a bourse filing, net profit for FY2026 rose 2.5% to RM219.33 million from RM214.03 million a year earlier, while revenue climbed 18.15% to RM1.36 billion — marking the group’s highest annual top line to date.

In a separate filing, Matrix Concepts announced that Kelvin Lee Chin Chuan, 35, has been appointed as the group managing director, effective June 1. Kelvin is the son of group executive deputy chairman Datuk Seri Lee Tian Hock.

He previously served as a group executive director on Matrix Concepts’ board.

On its annual performance, Matrix Concepts said the stronger revenue was mainly driven by its core property development segment, which remained the dominant earnings contributor across its township portfolio.

Matrix Concepts said gross profit declined 27.7% to RM114.6 million during the year, with margins narrowing to 37.1% from 51.9% a year earlier, mainly due to cost reclassification and changes in product mix.

The company reported a 9.3% year-on-year decline in net profit to RM38.7 million from RM42.67 million in the fourth quarter ended March 31, 2026 (4QFY2026), while quarterly revenue recorded a marginal 1.2% increase to RM308.9 million.

The group declared a fourth interim dividend of 1.25 sen per share, payable on July 9. This brings their full-year dividend payout to 6.1 sen apiece. 

Property development accounted for more than 90% of quarterly revenue, led by continued contributions from Sendayan Developments, which remained the group’s largest income driver.

Newer projects also added momentum during the quarter, including MVV City, which recorded a maiden revenue of RM46.7 million from industrial sales, and Levia Residence, which nearly doubled its contribution to RM37.1 million. Contributions from Bandar Seri Impian, its Australian project M333 St Kilda, and recently acquired Horizon businesses further supported overall revenue.

Outside property development, Matrix Concepts said the group’s hospitality, healthcare and education segments posted higher combined revenue, though their contributions remained relatively small. Growth was supported by higher occupancy and student enrolment, as well as improved healthcare management fee income.

Net profit was partly cushioned by lower operating expenses, which helped contain the overall impact of margin compression.

The group recorded RM352.9 million in new property sales during the quarter, driven mainly by Sendayan Developments, while unbilled sales stood at RM1.5 billion as at end-March 2026, providing earnings visibility over the next 15 to 18 months.

On its prospects, Matrix Concepts said growth will continue to be anchored by its flagship Sendayan township and MVV City development, alongside the expansion into the Klang Valley through recent acquisitions and upcoming high-rise projects in Kuala Lumpur, Damansara and Puchong.