Tropicana posts 3-fold increase in net profit

PETALING JAYA: Property developer Tropicana Corp Bhd posted more than three-fold increase in net profit to RM151.8mil in the third quarter ended Sept 30 compared with a year ago on a gain from the disposal of a subsidiary.

The company said in a filing with Bursa Malaysia that revenue decreased 18.7% to RM244.6mil compared with the same quarter a year ago on lower work in progress for its property development segment, as a number of the projects were in the early stages of construction.