Malaysian Reserve, 28 November 2014 - Tropicana's net profit rises 24% to RM29.5m in 3Q

28 November 2014

Tropicana's net profit rises 24% to RM29.52mil in 3Q. Tropicana Corp Bhd's net profit rose 24% to RM29.52 million in the third-quarter ended Sept 30,2014, compared to RM23.72 million a year earlier. This is despite revenue declined 28% to RM353.1 million from RM363.4 million previously. For nine-month period, its net profit was up 19.8% to RM126.8 million from RM105.8 miIion previously, on the back of RM1.01 billion revenue. In a fiHng with the exchange, the company attributed the better performance to higher revenue recognition across key projects within the Greater Kuala Lumpur such as Tropicana Gardens in Kota Damansara, Tropicana Heights in Kajang, Tropicana Metropark in Subang Jaya and Tropicana Danga Bay in Iskandar region in Johor. Its sales performance chalked up to RM1.2 billion in the first nine months while unbilled sales stood at RM2.7 billion as at end-September 2014..