Singapore Flyer operator Straco net profit soars 213.3% to $5.022m
The ride was in full operation in 1Q24.
Mainboard-listed Straco Corporation Limited’s net profit skyrocketed to $5.022m in 1Q24, up 213.3% YoY.
In 1Q23, the Singapore Flyer operator only reported a profit attributable to shareholders of $1.6m.
The company also saw increased revenue of $17.3m (+38.2% YoY) amidst the recovery of the business environment from the COVID-19 pandemic.
Straco Corporation said its Singapore Flyer ride operations were fully operational in 1Q24, helping boost revenue for the period.
In 1Q23, the Singapore Flyer was suspended for 27 days from 1 March 2023 for spoke cables replacement works and daily operation hours had not fully resumed.
Meanwhile, the company also saw higher visitor numbers in its China attractions, registering revenue growth.
Read Here
Advertise
Sign Up
