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Straco 3Q continues to grow

Vincent Chia
Straco 3Q continues to grow

Straco Corporation Limited announced its 3Q results. 9M revenue was up 25% year-on-year to $72.9 million while 9M PATMI was up 17% year-on-year to $33.3 million. 3Q revenue was up 26% year-on-year to $38.6 million while 3Q PATMI was up 28% year-on-year to $19.5 million. The results were attributed to strong growth in visitorship from its 2 main attractions Shanghai Ocean Aquarium and Underwater World Xiamen. Despite slower economic growth in China, there are plans to boost the internal tourism industry. Going forward, Straco expects further increases in domestic visitorship.

GET TO THE POINT : Looks like there are still parts of China that are still growing. Would be interesting to understand the effect of the government measures versus the real growth.

(Picture from Straco Corporation Limited)

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