Tropicana Q1 earnings slightly lower

PETALING JAYA: Tropicana Corp Bhd’s net profit was marginally lower at RM46.1mil for the first quarter ended March 31, 2019, compared with RM46.4mil in the corresponding quarter last year despite registering significantly lower revenue.

During the quarter in review, the property group’s revenue fell 53.7% to RM209.8mil from RM453mil in the previous corresponding quarter due to lower sales.

It declared a first interim dividend of 2.78 sen per share.

Tropicana attributed its stable earnings to the completion of two development phases at Tropicana Aman in 2018, which resulted in higher profit recognition in the said quarter.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Tropicana , Aman , earnings , lower , profit , property , construction ,


Next In Business News

Bank stocks stay positive amid negative market breadth
Budget 2022 to set tone for ringgit
Moody’s Analytics upbeat on AsiaPac, including Malaysia as travel curbs ease, stronger domestic demand
Strong demand for Agrobank’s first RM500m Sukuk
Ringgit opens higher amid caution over inflation
CIMB kickstarts week-long virtual customer appreciation event
CIMB inks landmark RM2.45b SLD transaction with Standard Chartered
Digital investment app MYTHEO launches ESG-themed portfolio
Fed to wait until 2023 to raise rates, but there is risk of earlier hike
Bursa extends lead as bank, energy rally continues

Others Also Read