Straco posts $10.7m net profit in Q3
Straco Corporation Limited reported a net profit of $10.73m in Q3, an 8% YoY decline. Profit after tax was $11.34m, down 9%. For the nine months to September, net profit fell 27.4% to $16.08m. Operating profit for Q3 was $15.72m, down 11.6%. China operations showed mixed results, with Shanghai Ocean Aquarium performing well, while Xiamen aquarium and Xi’an cable car faced declines. Singapore operations remained profitable. The company recorded a $0.63m exchange gain and net cash from operations was $16.35m, down 23.7% YoY.
Profit attributable to shareholders fell 8% YoY.
Straco Corporation Limited reported net profit of $10.73m in the third quarter, down from $11.67m recorded in the same period last year. Profit after tax stood at $11.34m, down 9% from $12.45m in Q3 2024.
For the nine months to September, net profit was $16.08m, a 27.4% year-on-year decline from $22.16m. Profit after tax for the period fell 27.1% to $17.19m, compared with $23.57m in 2024.
Operating profit for Q3 was $15.72m, 11.6% lower than $17.78m in Q3 2024. Year‑to‑date operating profit dropped 23.6% to $25.43m, from $33.28m a year earlier.
The company said its China operations recorded mixed results. Shanghai Ocean Aquarium registered higher revenue and profit, but the Xiamen aquarium and Xi’an cable car business reported declines due to reduced tourist spending and stronger competition. Singapore operations remained profitable, with the Singapore Flyer launching a new Time Capsule experience in conjunction with the country’s 60th anniversary.
The company recorded an exchange gain of $0.63m in Q3, compared with a loss of $1.2m in Q3 2024. Net cash generated from operating activities was $16.35m in the quarter, 23.7% lower year on year.
