Sin Chew Daily -Tropicana earnings soared 1.38 percent in Q4

Kuala Lumpur, 27 February 2018 – Attributed the big jump in earnings to cost savings, release of low-cost provisions and advanced progress of projects, Tropicana Corp. Bhd. (TROP, 5401, main market, property) saw its net profit for the fourth quarter of its financial year ended 31 December 2017 (4QFY17) hiked 137.96% to RM 69.61mil, whereas its full year FY17 net profit was higher by 69.26% to RM 190.5mil.

For the current quarter, the group’s revenue expanded by 35.36% to RM 619.03mil, whereas it’s annual revenue for FY17 grew by 30.79% to RM 1.91bil.

On 22 February 2018, Tropicana’s share was recorded at RM 1.6 sen per share.

In another press statement, Tropicana announced the group acquired the entire stakes of Marivaux Holdings Sdn. Bhd. at RM 78.25mil.