Sin Chew Daily - Tropicana earned 29.26 million in final quarter

Tropicana earned RM 29.26mil in final quarter

Kuala Lumpur, 27 February 2017 - Tropicana Corp Bhd's net profit rose marginally to RM 29.3 mil or 0.62% for the fourth quarter ended Dec 31, 2016 (4QFY16).

Revenue in Q4 climbed 50% to RM 457.3mil and it indirectly increased its yearly revenue 16.5% to RM 1.4bil.

In a statement today, Tropicana said short-term prospects are expected to remain challenging but it believes there would still be demand for properties in prime locations with accessibility to good amenities and attractive pricing. Hence, its strategy would continue to be market driven and to adapt to market demand while focusing on unlocking land bank value in Klang Valley and the northern and southern regions.

“Tropicana's current land bank in Malaysia has a gross development value of more than RM 50bil. With its unbilled sales stood at RM 2.54bil as at Dec 31, 2016, the group is expected to continue to contribute positively to its earnings in the near future.”