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Straco's 1Q earnings more than double to $8.5 mil on revenue recovery from Singapore Flyer

Michelle Zhu
Michelle Zhu5/14/2019 06:38 PM GMT+08  • 2 min read
Straco's 1Q earnings more than double to $8.5 mil on revenue recovery from Singapore Flyer
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 h
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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.

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