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.

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