Tropicana posts RM260.4 mil revenue in 1QFY2025

• Tropicana’s financial position continues to improve, with gross gearing level reduced from 0.43 times as of Dec 31, 2024 to 0.42 times as of March 31, 2025.

PETALING JAYA (May 29): Tropicana Corporation Bhd reported a revenue of RM260.4 million in the announcement of its unaudited financial results for the first quarter ended March 31, 2025 (1Q2025). This represents a decrease of RM30.9 million or 10.6% compared to RM291.3 million in the corresponding quarter of the preceding year.

The group also recorded a lower profit before tax (PBT) of RM5.3 million as compared to a PBT of RM22.3 million in the corresponding quarter in the preceding year.

“The decline in both revenue and profitability was primarily attributable to the completion of the divestment of several investment properties, resulting in a reduction of recurring income,” stated Tropicana in a media release.

“On a positive note, the group’s finance costs declined in line with its ongoing strategy to reduce overall debt levels through asset monetisation initiatives,” it added.

Tropicana’s financial position continues to improve, with gross gearing level reduced from 0.43 times as of Dec 31, 2024 to 0.42 times as of March 31, 2025.

“We will continue to strive forward and strengthen our stakeholder engagements, focusing on value creation as well as establishing strategic marketing and sales campaigns across our online and offline platforms. We believe that the demand for properties in Tropicana’s established, mature and developing townships will persist and that the property market should maintain its positive momentum in 2025,” said the Tropicana management.

“Tropicana’s unbilled sales stood at RM2.1 billion, placing the company in a comfortable position to deliver sustainable earnings. As a community planner, we will continue to connect communities, forge better futures while delivering sustainable growth," the management added.

Tropicana’s current landbank stood at 1,336.1 acres, with a total potential GDV of RM168.4 billion.

“Over the past few months, the group has announced many positive news such as the 100% take-up on 10 of its developments across Malaysia, as well as successful collaborations with various international firms to boost confidence and sales,” stated Tropicana.

An example of this is the recent appointment of world-class architectural firm Skidmore, Owings & Merrill to lead the transformation of 163-acre Lido Waterfront Boulevard (LIDO) will add more value, placing LIDO as its most prime piece of land in Johor.

Meanwhile, Tropicana Miyu, Edelweiss Serviced Residences, Freesia Residences, Gemala Residences, Hana Residences and SouthPlace Residences in the Klang Valley recorded 100% take-up.

Developments in the northern and southern regions also scored 100% take-up.

Want to have a more personalised and easier house hunting experience? Get the EdgeProp Malaysia App now.