China Press - Q3 profit of 35.49 million Tropicana Corporation distribute 2 cent interests

Kuala Lumpur, 30 November 2017 - Due to higher progress billings from advanced progress of many of its ongoing projects, property developer Tropicana Corp. Bhd's (TROP, 5401, main market, property) net profit rose 2% to RM 35.49mil in the third quarter ended Sept 30, 2017 (3QFY17) and declared a first interim dividend of 2 sen per share. In a filing with Bursa Malaysia today, its quarterly revenue grew 30% to RM 463.47mil in 3QFY17. For the cumulative nine months (9MFY17), the group's net profit increased 45% to RM 120.86mil from RM 83.28mil a year ago, while revenue grew 29% to RM 1.29bil. Despite the overall short-term prospects for the industry are expected to remain challenging, with the group's unbilled sales of RM 1.9bil as at Sept 30, 2017, it is expected to continue to contribute positively to the group's earnings over the next few years. On top of that, Tropicana said it plans to further strengthen its brand presence and maximize the shareholders' value by unlocking its landbank with potential gross development value (GDV) of RM 42.8bil