PETALING JAYA: Contribution from the M Greenvale project in Australia, which has unbilled sales of RM76.1mil, is expected to help cushion Matrix Concepts Holdings Bhd’s slower progress billings from local projects, which have been impacted due to the labour shortage.
Matrix recorded a net profit of RM50.6mil in the second quarter ended Sept 30, 2022 of its financial year 2023 (2Q23), bringing its first-half (1H23) profitability to RM97.6mil.
However, revenue declined 7.2% year-on-year because of lower construction activities from a shortage of labour.
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