PETALING JAYA: Matrix Concepts Holdings Bhd is aiming to convert its growing unbilled sales, which have now exceeded RM1.4bil from RM1.1bil last year, to revenue upon solving its labour shortage issue. In a filing with Bursa Malaysia, Matrix Concepts said it was in the final stages of the foreign labour recruitment process and expects to fulfil its labour requirement at its construction sites by year-end. Residential properties remain the group’s strongest provider, contributing 93.1% or RM207mil of its revenue for the quarter, as homebuyers remain attracted by the value proposition of the group’s product offerings. For 1H23, both the group’s revenue and net profit improved by 12.1% and 16.9% y-o-y to RM451.61mil and RM97.61mil, respectively. “The group is on track to hit its full-year sales target, as 1H23 new sales reached 55.2% of the group’s sales target of RM1.2bil in the financial year ending March 31, 2023,” it noted.

Source: The Star November 24, 2022 13:29 UTC