Oriental Daily - Tropicana income may break target 15 million

Kuala Lumpur, 30 May 2017 – Backed by new launches with gross development value (GDV) of RM 1.6bil, Tropicana Corp. Bhd. (TROP, 5401, main market, property) foresee a higher net profit for the financial year ended December 31, 2017, eyeing to achieve a better result as compared with previous year.

Group Chief Executive Officer Datuk Yau Kok Seng told reporters after the company’s shareholders meeting, in this year the group is targeting property sales of more than RM 1.2bil, while the income may break RM 1.5bil backing from unbilled sales of RM 2.5bil.

“We hope the group can maintain the first quarter’s growing trend in the following quarters and achieve a higher sales result compared to previous financial year.”

According to statement published on 27 May 2017, Tropicana saw an increase of 114.35% to RM 32.52mil in its net profit for the first quarter. The group attributed its growth to strong sales in its property projects and advanced progress of construction in many of its ongoing projects.

Its revenue for the quarter grew 33% to RM 381.9mil.