The Star - Tropicana earnings up

KUALA LUMPUR: Tropicana Corp Bhd's net profit for the third quarter (Q3) ended Sept 30,2018, rose to RM34.15mil from RM30.91mil in the same quarter last year.Revenue, however, decreased to RM307.1mil from RM458.03mil previously, it said in a filing with Bursa Malaysia.

'The decrease in revenue in the current quarter reflected lower sales and progress billings from stages of construction work for the group's ongoing projects, which are scheduled to be completed in late 2018 and 2019" it said. On prospects, the group said it 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 - at Tropicana Heights, Tropicana Aman, Tropicana Metropark and Tropicana Danga Cove - which are expected to continue to contribute positively to the group's earnings,'' the company said.