The improved net profit was due to higher revenue recognition across key projects within the Greater Kuala Lumpur area such as Tropicana Heights in Kajang.
PETALING JAYA: Property developer Tropicana Corp Bhd
posted a 24.5% jump in net profit to RM29.5mil for its third quarter ended Sept 30, from RM23.7mil a year earlier.
However, its revenue dropped 2.9% to RM353.1mil from RM363.4mil, which it attributed to a lower percentage of revenue recognised on ongoing property development projects.
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