KUALA LUMPUR: Tropicana Corporation Bhd’s net profit rose to RM52.21 million for the first quarter ended March 31, 2018 from RM28.28 million recorded in the same period last year.
Revenue rose to RM453.01 million from RM373.68 million previously, a result of higher progress billings made from its various developments in the Klang Valley, the company said in a filing with Bursa Malaysia.
“While the overall short-term prospects for the industry are expected to remain challenging, the group believes that there will still be demand for properties in prime locations with attractive pricing.
It would continue to focus on being market-driven and unlock the value of its land bank, at strategic locations across the Klang Valley, Northern and Southern Regions.
With this in mind, Tropicana would continue to focus on the introduction of new phases across its developments, namely at Tropicana Heights, Tropicana Aman, Tropicana Metropark and Tropicana Danga Cove, which are expected to continue to contribute positively to group’s earnings, said the company.