Tropicana posts higher Q2 revenue

PETALING JAYA: Property developer Tropicana Corp Bhd posted a 3.6% increase in revenue to RM312.34mil for the second quarter ended June 30 compared with a year ago driven by higher revenue recognition across key projects within the Klang Valley.

However, net profit for the quarter under review dropped 74% to RM23.17mil compared to the same quarter a year ago. The company said the decline in net profit was due to the higher base resulting from RM69.9mil gained from the disposal of investment properties and a subsidiary of a joint venture in the second quarter last year.