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Straco remains in the red for 1QFY2022 as pandemic-related curbs continue

The Edge Singapore
The Edge Singapore5/24/2022 6:31 PM GMT+08  • 1 min read
Straco remains in the red for 1QFY2022 as pandemic-related curbs continue
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The pandemic is still weighing down on tourism attraction operator Straco Corp. For the 1QFY2022 ended March, the company reported a wider loss of $2.96 million, vs red ink of $658,700 in the year earlier period.

Revenue in the same period was down 40.3% y-o-y to $4.8 million, as its various attractions suffered from suspensions imposed by authorities trying to curb the pandemic.

“We expect sentiment to improve with gradual de-escalation of Covid measures amid success in managing the situation by the authorities,” says Straco, referring to its operations in China.

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