Straco Corporation has returned back to profitability for FY2023 with the end of pandemic restrictions.
The tourism attraction operator has reported earnings of $25.7 million for the year to Dec 31 2023, reversing from a loss of $10.8 million for FY2022.
Revenue in the same period surged 191.3% to $82.1 million, driven especially by its flagship attraction the Shanghai Ocean Aquarium which enjoyed "substantially" higher visitor numbers.
Here in Singapore, the operator of the Singapore Flyer was able to enjoy higher revenue too for its 2HFY203 over 2HFY2022.
Straco plans to pay a first and final dividend of 1.5 cents, plus a special dividend of half a cent, bringing full-year payout to 2 cents.
Executive chairman Wu Hsioh Kwang says that overall visitor numbers to all of the company's attractions were more than 70% of pre-pandemic level in FY2019, and all attractions
reported profits for the year.
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However, Straco warns that the external environment remains challenging and geopolitical uncertainties will continue to weigh on the global economy, dampen growth, and affect the pace of travel recovery.
"The group will continue to monitor, adapt and manage the impact on its operations."
Straco Corp shares closed at 53 cents on Feb 29, up 2.91% for the day.
