China Press - Tropicana Corp end quarter rise 1.4 times

Kuala Lumpur, 28 February 2018 – Attributed the big jump in earnings to cost savings and release of low-cost provisions, 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 1.4 times to RM 69.62mil.

Tropicana filed with Bursa Malaysia that the group’s revenue expanded by 35.4% to RM 619.04mil and this increase in revenue reflected higher progress billings from advanced stages of construction work for many of the group’s ongoing projects.

The group’s annual net profit was higher by 69% to RM 190.48mil, whereas its annual revenue grew by 31% to RM 1.91bil.

The group is confident to demonstrate further resilience moving forward, backed by RM 1.5bil in unbilled sales.