Straco's net profit jumps 20.9% to $23.6m in Q3

Thanks to strong contributions from the Singapore Flyer.

The developer and operator of tourism-related attractions reported a 20.9% profit growth in the third quarter, mainly on back of higher revenue contributions from its key attractions.

The group enjoyed higher revenue from the Singapore Flyer, sustained visitor growth to its Shanghai Ocean Aquarium (SOA), and the RMB strengthening against SGD as compared to 3Q2014.

However, the increase was offset by lower revenue from Underwater World Xiamen (UWX), which resulted from government control of tourist traffic to Gulangyu Island where UWX is located.

“We are happy with this quarter’s results which saw the Group’s revenue and profit achieve double-digit growth compared to 3Q14, as positive contribution from Singapore Flyer boosted the Group’s earnings while our China operations maintained overall positive growth despite new challenges in the macroeconomic environment,” said Straco Executive Chairman Wu Hsioh Kwang.

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