Tropicana’s revenue jumps 60.7% to RM1.5bil in FY23


KUALA LUMPUR: Property developer Tropicana Corporation Bhd recorded a lower net loss of RM174.19 million in the financial year ended Dec 31, 2023 (FY2023) as compared to RM435.59 million in FY2022.

Revenue, however, jumped by 60.7 per cent to RM1.51 billion from RM942.56 million previously,

Tropicana said in a filing with Bursa Malaysia today that the increase in revenue was attributed to higher progress billings across key projects and the completion of the disposals of land for RM205.6 million.

For the fourth quarter ended Dec 31, 2023 (4Q 2023), Tropicana’s net loss declined to RM158.92 million from RM314.37 million in 4Q 2022, while revenue soared to RM390.46 million against RM186.19 million previously.

The group said it will continue to leverage its various sales initiatives and marketing campaigns to secure more sales. - Bernama

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