Tropicana swings into the red in 1Q

Tropicana is famed for its lush and serene township developments

KUALA LUMPUR: Tropicana Corp Bhd posted a net loss of RM33.39mil in the first quarter ended March 31 (1Q22) compared with a net profit of RM2.34mil in the same quarter a year ago, mainly due to its hotel business which has not fully recovered from the Covid-19 pandemic.

Its revenue fell 7.16% to RM223.29 in the first quarter from RM240.53mil a year ago.