Straco’s 2Q earnings fall 11.6% to $9.3 mil

SINGAPORE (Aug 10): Straco Corporation, the operator of tourism-related attractions, posted earnings of $9.3 million in 2Q16, 11.6% lower than $10.5 million recorded in the same quarter last year.

This is partly attributable to the foreign exchange loss recorded in the current period as the yuan weakened against the Singapore dollar, compared to an exchange gain recorded in 2Q15, Straco says in an SGX filing on Wednesday.

Taking away forex differences, earnings would have dropped by a smaller 6.4%.

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