Straco posts 6.1% lower 3Q earnings of $21.3 mil

SINGAPORE (Nov 14): Straco Corporation announced earnings of $21.3 million for 3Q17, representing a 6.1% decline from its 3Q16 earnings of $22.7 million a year ago, on lower revenue and higher expenses.

Revenue for the quarter fell 3.2% to $461 million from $47.6 million a year ago due to lower income from its Underwater World Xiamen (UWX) business in China, which was offset in part by increased contributions from Shanghai Ocean Aquarium (SOA), Lixing Cable Car and Straco Leisure, which operates the Singapore Flyer.