NEW PROPERTY SALES For FY2024, Matrix registered sales of RM1.25 billion, 4.2% higher yearon-year, compared to RM1.20 billion in FY2023. The sales achieved for the financial year was marginally below the Group’s internal target of RM1.3 billion. This achievement reinforces the intrinsic value and appeal of Matrix’s properties to its buyers, particularly given its strategic location, excellent accessibility and connectivity, all nestled in an environment offering community infrastructure and familyfriendly amenities. In FY2024, unbilled sales registered RM1.28 billion, a 11.1% decrease over the unbilled sales of RM1.44 billion in FY2023. This is attributable to recovery of the speed of construction following the arrival of new foreign workforce as well as improved efficiency at construction sites. In FY2024, Matrix recorded an average take-up rate of 81.1% with 2,209 units launched at a total value of RM1.32 billion, compared to the corresponding previous financial period with total value of RM1.27 billion. COSTS The nation’s economy has seen an overall positive progress in FY2024. Despite the lingering issues of supply chain and labour severely impacting the construction industry, Matrix has successfully managed to contain the inflation in costs with a mere increase of 15.5% year-on-year in its costs of sales. In FY2024, cost of sales stood at RM720.8 million, an increase of 15.5% compared to RM624.3 million in FY2023. This was supported by the improved gross margin for its matured developments, particularly the Tiara Sendayan series. This augurs well for the Group’s far reaching aspiration of this development. EARNINGS As a result of the Group’s strengthening revenue stream and ongoing cost rationalisation approach, Matrix recorded improved earnings in FY2024, year-on-year. The Group’s retained a commendable gross profit of RM623.3 million in FY2024 over FY2023. This represents an increase of 27.5% over the financial years, seen as amongst the highest in the industry. The Group’s gross profit margin recorded a significant increase to 46.4% owing to a favourable product mix, although net margin decreased marginally to 18.2% due to higher selling and marketing expenses as well as administrative and general expenses. Group profit before tax (“PBT”) stood at RM332.4 million, 27.5% higher, year-on-year, while profit after tax (“PAT”) was RM245.8 million, 21.2% higher, year-on-year. DIVIDENDS In FY2024, Matrix has announced dividends payouts to shareholders amounting to RM125.2 million, equivalent to 50.9% of the Group’s after-tax earnings for FY2024. Matrix continues to maintain its eleven-year track record of dividends distribution to shareholders, on a quarterly basis, The Group continues to be amongst the most consistent dividend-paying companies listed on Bursa Malaysia’s Main Board, and the payouts were further made more lucrative after increasing its dividend payout rate to 50% of total after tax earnings for the respective financial year, in FY2022, from 40% previously. MANAGEMENT DISCUSSION & ANALYSIS GROSS PROFIT REPRESENTS AN INCREASE OF 27.5% OVER THE FINANCIAL YEARS, AMONGST THE HIGHEST IN THE INDUSTRY Resort Villa Bungalow KEY MESSAGES 43 INTEGRATED ANNUAL REPORT 2024
RkJQdWJsaXNoZXIy NDgzMzc=