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Straco Q1 earnings flat despite surge in revenue

Published Fri, May 9, 2014 · 10:00 PM
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Singapore

CHINA tourism operator Straco Corporation recorded flat earnings for the first quarter despite a near one-third surge in revenue.

Net profit for the January-March quarter was $5.41 million, or 0.64 cent per share, down one per cent from $5.46 million, or 0.65 cent per share, a year earlier.

A $1.01 million foreign exchange loss arising from the weakening of the Chinese yuan against the Singapore dollar contributed to a surge in administrative expenses from $1.14 million to $2.96 million. In the year-ago period there was an exchange gain of $0.61 million…

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