Sin Chew Daily - Tropicana Corporation Q3 earn RM34.15mil due to cost saving

Tropicana Corp. Bhd. Q3 earn RM 34.15mil due to cost saving  Kuala Lumpur, 26 November 2018 - Tropicana Corp Bhd’s (TROP, 5401, main market, property) net profit for the third quarter ended Sept 30, rose by 10.47% to RM 34.15mil registered a year ago, due to lower deferred tax transfers. The group’s net profit rose 13.5% to RM 118.55 mil.

First nine months earn RM 118mil  Revenue for the quarter under review fell by 32.95% to RM 307.1mil, while revenue for the period decreased by 18.04% to RM 1.04bil due to lower sales and progress billings from stages of construction work. Whilst the overall short-term prospects for the industry are expected to remain challenging, the group believes that there will still be demand for properties in prime locations with attractive pricing. The group will continue to focus on being market-driven in its products offerings whilst continuing to unlock the value of its landbank, at strategic locations across the Klang Valley, Genting and Southern Regions. “Besides, 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.”