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

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Tropicana , property , developer


Next In Business News

MRCA names Ken Phua as 10th president
The Chinese site that rewired online shopping
Bank Negara international reserves lower at US$113.4bil
Gold slips over 1% as fears of wider Middle East conflict ebb
China seen as indispensable to global supply chain
SC to introduce VC Golden Pass to streamline venture capital registration
China state fund pours US$41bil into stock market in Q1, reports show
Oil prices fall more than 1% as Iran-Israel tensions ease
Apparel retailer Express files for US bankruptcy protection, to close over 100 stores
Iconic Worldwide unit eyes 70% take-up rate for Iconic Harmony project

Others Also Read