Straco's Q3 profit down 3.6% to S$22.7m

SINGAPORE Flyer and China aquarium owner Straco Corporation said on Thursday its net profit for the third quarter ended Sept 30, 2016, was down 3.6 per cent to S$22.7 million, from S$23.6 million a year ago.

Revenue dipped 3.4 per cent to S$47.6 million, from S$49.3 million a year ago.

Lower revenue was due to lower contributions from its Underwater World Xiamen and Lixing Cable Car attractions, partially offset by higher revenue from its Shanghai Ocean Aquarium and Singapore Flyer attractions. A weaker Chinese yuan also led to lower revenue in Singapore-dollar terms.

Overall visitation to all attractions was 2.01 million visitors for the quarter, 1.1 per cent lower than a year ago.

Straco last traded at S$0.775, up two cents or 2.6 per cent, before results were released.