Matrix profit surge 43% to NIS 32.7 million

The sharp growth in activity of the computer and software services company Matrix continues. It reported that it ended the second quarter of 2018 with double-digit growth in each of the key indexes: revenue, gross profit, operating profit and net profit.
Matrix ended the second quarter with a net profit of NIS 32.7 million, reflecting growth of 43.3% compared with the corresponding quarter. Following the publication of the financial statements, the Company announced a quarterly dividend of NIS 24.5 million, based on the Company's policy to distribute 75% of the net profit as a dividend to the shareholders every quarter.
Matrix operates in five operating segments: software and value added solutions and services in Israel, software solutions and services in the United States, marketing and support of software products, integration solutions and computer infrastructure, as well as training and assimilation.
Matrix's revenues grew 14% to NIS 762.2 million in the second quarter and led the company to show growth of 22.1% in operating profit to NIS 50.1 million. The growth in revenues contributed to an increase in all operating segments, as well as the initial consolidation of the American companies Alius and PVBS acquired by Matrix. In response to the results, Matrix shares jumped to a price that reflects a company value of NIS 2.5 billion, completing a 95% jump in the last three years.
Moti Gutman, CEO of Matrix, explained that the increase in revenues stemmed, among other things, from strategic transactions that the company had won over the past year, such as the deal to establish a credit database for the Bank of Israel and other cyber transactions. In the second quarter, as well as in organic growth due to the thickening of our sales .In the second quarter, we achieved a 30% increase in revenues in the US and 66% in operating profit.