PETALING JAYA: Property developer, Tropicana Corporation Berhad announced its unaudited financial results for the fourth quarter ended Dec 31, 2017.
During the quarter under review, Tropicana’s net profit jumped 153.6% to RM74.8mil as compared with RM29.5mil achieved in the same period a year ago.
The Group’s revenue grew by 35.3% to RM619.0mil from RM457.3mil in the corresponding quarter last year as a result of higher progress billings recorded from development projects in the central and northern regions.
Meanwhile, the Group’s profit before tax rose 180.8% to RM114.2mil against the same period a year ago. Earnings per share for the fourth quarter stood at 4.77 sen against 2.05 sen previously.
The Group drew in sales contribution of RM252.6mil in the fourth quarter and is confident that it will continue to demonstrate further resilience moving forward, backed by RM1.5bil in unbilled sales.
