MANAGEMENT DISCUSSION & ANALYSIS EARNINGS On the back of stronger revenue recognition and continued cost rationalisation strategies, Matrix posted improved earnings in FY2023, year-on-year. Group profit before tax (“PBT”) stood at RM260.7 million, 2.9% lower, year-on-year, while profit after tax (“PAT”) was RM202.8 million, 1.0% higher, year-on-year. Earnings performance began to pick up from the first quarter of FY2023 and improved gradually each quarter, before culminating with a solid profit performance to end the financial year. Net profit margins remain at a healthy 18.2%, which is among the highest in the industry, albeit lower than the previous financial year’s net margin of 22.5%. FY23 Performance Snapshot Total Value of Properties Sold FY23: RM1,204 mil1 FY22: RM1,344 mil FY23: RM1,281 mil FY22: RM918 mil RM2,933 mil as at 31.3.23 (RM2,734 mil as at 31.3.22) FY23: RM993 mil FY22: RM1,004 mil Projects Launched Ongoing GDV (under construction) Projects Completed RM1.44 bil as at 31.3.23 (RM1.30 bil as at 31.3.22) 84.0% As at 31.3.23 Unbilled Sales Average Take-up (units) (excl. STV) 1 Does not include RM72.0 million sales of M. Greenvale (Australia) 2 Property status adjustment for Impiana Damai 2A & Nusari Bayu 2 # GDV value adjustment for M. Greenvale (Australia), Property status adjustment for Impiana Damai 2A & Nusari Bayu 2 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 301 340 357 346 309 353 340 202 1,965 2,068 2,655 2,734 3,077 3,174 2,9972 2,933 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 0 306 203 409 317 334 284 346 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 100 51 168 376 537# 197 331 237 INTEGRATED ANNUAL REPORT 2023 MATRIX CONCEPTS HOLDINGS BERHAD 45
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