SINGAPORE (May 14): Straco Corporation, the developer and operator of tourism-related attractions including the Singapore Flyer, has posted earnings of $8.5 million for the 1Q ended March, more than doubling from its 1Q18 earnings of $3.5 million due to higher revenue.
Revenue for the quarter grew 30.8% on-year to $24.6 million from $18.8 million a year ago with comparably higher revenue contributions from Singapore Flyer as opposed to the corresponding quarter, where revenue was impacted from a two-month suspension of the Ferris wheel’s operations.
This more than offset lower revenue contributions from Shanghai Ocean Aquarium (SOA) and Underwater World Xiamen (UWX), which saw lower revenues in the latest quarter on lower visitor numbers.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
