Sin Chew Daily - Tropicana extra earnings 30% in Q3

Due to cost savings and higher progress billings from many of the group's ongoing projects, property developer Tropicana Corp Bhd's net profit grew 2% to RM 35.49mil in 3QFY17, which pushed the 9-months revenue by 28.7% to RM 1.29bil. Its quarterly revenue grew 29.8% to RM 463.47mil in 3QFY17, pushing the group's net profit by 45.12% to RM 120.86mil for the cumulative nine months (9MFY17). In a filing with Bursa Malaysia today, while the overall short-term prospects for the industry are expected to remain challenging, the group believes there will still be demand for properties in prime locations with accessibility to good amenities and attractive pricing. "The group has recently unveiled 'Tropicana Urban Homes' to address underlying needs of the middle income community and this new product line allows us to target a wider pool of customers and progressively grow our customer base."  Tropicana added that the group's unbilled sales is RM 1.87bil as at Sept 30, 2017, which is expected to continue to contribute positively.