Tropicana Q3 net profit rises to RM34.15m

KUALA LUMPUR: Tropicana Corporation Bhd’s net profit for the third quarter (Q3) ended Sept 30, 2018, rose to RM34.15 million from RM30.91 million in the same quarter last year.

Revenue, however, decreased to RM307.1 million from RM458.03 million previously, it said in a filing with Bursa Malaysia today.

“The decrease in revenue in the current quarter reflected lower sales and progress billings from stagesof construction work for the group’s existing ongoing projects, which are scheduled to be completed in late 2018 and 2019,” it said.

On prospects, the group believed there would still be demand for properties in prime locations with attractive pricing.

“Tropicana will continue to focus on the introduction of new phases across its signature developments, namely at Tropicana Heights, Tropicana Aman, Tropicana Metropark and Tropicana Danga Cove, which are expected to continue to contribute positively to the group’s earnings,” it added.

Source: NST