Tips From Matrix's Chairman?

Matrix Concepts has held its annual dinner in the end of January 2014.

The newspaper (Chinese papers) cutting about this event can be found in Matrix's website.

From the papers' reporting, Matrix's chairman Dato Mohamad Haslah mentioned in his speech that the group achieves sales of RM788mil last year (should be year 2013), compared to RM686mil a year before (should be 2012).

Because of the increasing sales, he also mentioned that the group's profit after tax "may have" doubled.

Sin Chew: chairman "believes" that the group's after tax profit may have doubled in growth

What does this really mean?

Does it mean that FY2013 net profit is twice as much as FY2012 net profit?

Matrix registers RM103.5mil net profit in FY2012. Does the chairman mean that FY2013 net profit will be about RM207mil?

Or does he mean that the percentage of growth in net profit has doubled?

Matrix's net profit for FY2011 & FY2012 are RM69.4mil & RM103.5mil respectively, which represents a growth of 49%. 

So if he means the percentage of growth has doubled, then it might be 98% growth from FY2012's net profit, which also exactly means double in net profit.

After 9 months into FY2013, Matrix's net profit stands at RM112.2mil, which is already a magnificent result. If its FY2013 net profit is to be doubled, then it will be a whopping RM90mil net profit in a single 4th quarter alone!

Fifteen percent increase in sales but 100% increase in net profit? Come on, don't bluff. 

It is something unbelievable, really, but not totally impossible.

I've seen the profits of some property developers suddenly spike due to the timing of billing. Matrix's margin may be higher as its property selling price has increased significantly (from single to double storey houses). Or perhaps many more properties have been launched and sold for the past 1 year.

Was the "non-executive" chairman just simply talking for fun? Or did he mean something else? He should have known the full year FY2013 result by then anyway.

Or is there any misunderstanding by the reporters?

Nan Yang: Due to the increasing sales, the group's after tax profit also double in growth. 

There is another statement (in green box above) reported in Nan Yang daily in which the chairman said: "Remember to check out on 25th Feb, when the group will release its full year results in Bursa, surely we will bring good news to everyone."

Is the good news about super quarterly results or super dividend, or both, or nothing really special?