China Press - Tropicana Corp net profit RM39 million in 2Q

Kuala Lumpur, 1 September 2019 – Due to the higher progress billings across some of its key existing ongoing projects, Tropicana Corp. Bhd.’s (TROP, 5401, main market, property) net profit went up 2.7% to RM 39.02mil for the second quarter ended June 30, 2019, whereas quarterly revenue grew 6.4% to RM 299.45mil. Earning per share increase 0.12 cent to 2.72 cent. Despite the cumulative revenue for the first half of its financial year fell 35% to RM 509.22mil, the group’s net profit rose 0.8% to RM 85.10mil. Looking ahead, the group said it is well positioned to deliver sustainable earnings, pointing out that its unbilled sales stood at RM 830.6mil as at the end of June, across 14 ongoing projects. The group has over 1,071 acres of prime landbank located in strategic locations across the Klang Valley, Genting and the southern regions with GDV totalling RM 48.6bil.