Tropicana Corp's Q1 net profit soars 56pct

KUALA LUMPUR: Tropicana Corp Bhd's net profit rose 56.3 per cent to RM8.4 million in the first quarter (Q1) ended March 31, 2021 from RM5.4 million recorded a year ago.

The company's revenue increased 68.5 per cent to RM240.5 million compared to RM142.7 million last year.

"The increase in revenue and net profit in the current quarter is mainly contributed by higher sales and progress billings across key projects in the Klang Valley and Southern Region which have picked up in the current quarter," Tropicana said. 

Group managing director Dion Tan said the company had delivered positive results despite the unprecedented times and would continue to be cautiously optimistic about its growth.

"Our flexible homeownership solutions such as Tropicana 100 campaign that offers 100 per cent amazing deals and our Tropicana FreeDOM campaign featuring big savings for completed units have received favourable responses. 

"To enhance our customer engagement experience, we have also accelerated our digitisation journey by improving our Tropicana ecosystem with our Tropicana 360 developer app as well as revamped our website with insightful updates," he added.

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