Matrix Concepts Group Berhad ('Matrix') is involved in property development, education, clubhouse operator and construction. It was listed on Bursa Malaysia in June 2013. Currently the group has 2 major on-going township developments, namely Bandar Sri Sendayan in Seremban, Negeri Sembilan and Bandar Sri Impian in Kluang, Johor.
MATRIX broke above its all-time high of RM2.56 last week. With this upside breakout, Matrix will recommence its uptrend which dates back to September 2013.
Chart 1: Matrix's weekly chart as at Oct 5, 2016 (Source: Chartnexus)
Recent Financial Performance
Matrix's last quarterly results was in QE30/6/2016, which shows its net profit rose 8% q-o-q or 74% y-o-y to RM52 million. Its revenue is mixed- down 7% q-o-q but rose 63% y-o-y to RM196 million.
Table: Matrix's last 8 quarterly P&L
Chart 2: Matrix's last 14 quarterly P&L
Matrix (closed at RM2.63 yesterday) is now trading at a trailing PER of 9.1 times (based on last 4 quarters' EPS of 29 sen). Its price to book is at 1.62 times (based on NTA of RM1.62 per share as at 30/6/2016). Matrix paid out dividend totaling 19.4 sen n FY2016, which translates into a DY of 7.4%. Overall, Matrix is deemed fairly valued.
Based on satisfactory financial performance, fairly valuation & bullish technical outlook, Matrix could be a good stock for a trading BUY.
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