PETALING JAYA: Tropicana Corp Bhd
says its new launches and ongoing sales campaign as well as improved performance from the group’s property investment, recreation and resort operations will help to spur growth this year.
The property developer posted a 15% or RM33.4mil rise in revenue to RM256.7mil for the first quarter ended March 31, 2023 (1Q23) and pre-tax profit of RM0.8mil, an increase of 102.2% over the corresponding quarter in the preceding year.
The increase was mainly attributed to the improvement of the group’s property investment, recreation and resort operations on the back of the reopening of borders since April last year as well as cost rationalisation measures to reduce overall expenses, while adhering to prudent risk management.
“We will continue to roll out effective marketing and sales campaigns to drive growth. Digital and online engagement became a big part of our marketing strategies.
“The recent TropiQuest campaign is a novelty explore and earn sales initiative where we match the purchasers’ profiles with their Tropicana dream property.
“At the same time, they will enjoy fantastic prizes from gadgets to hotel stays, earn referral rewards, sale and purchase agreement incentives, furnishing packages, loan agreements as well as memorandum of transfer stamp duty exemptions,” it said in a release.
“In addition, we are back into the black in 2023, underpinned by our robust unbilled sales of RM2bil and spurred by launches in Tropicana’s unique residential, commercial and resort-themed developments.
“In the pipeline, we will continue to unlock our land bank offering with four new developments with a total gross development value of RM1.1bil, which will contribute to the future earnings of the group.”
