Straco's net profit dives 11.6% to $9.25m

Tourism attractions abroad are losing visitors.

Straco Corporation’s tourism businesses may be losing their charm as the group’s net profit dipped 11.6% YoY to $9.25 million.

According to Straco, the decline is largely due to unimpressive revenues on back of lower visitations at two aquariums, Shanghai Ocean Aquarium and Underwater World Xiamen. Overall visitation to all the attractions dove 7.2% YoY this quarter.

It also blamed exchange loss in the current period against an exchange gain in the same quarter a year ago, as RMB currency weakened against SGD in this quarter. Taking away the exchange differences, group profit would have declined around 6.4% instead, Straco said in a release.

“Despite higher revenue at Singapore Flyer for 2Q16 following improved ticket yield, group revenue fell 5.2% to $27.86 million,” it added.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia