The number of passengers travelling between Hong Kong and Macau via Shun Tak Holdings Limited’s flagship ferry service, TurboJET, declined 3% year-on-year to 6.7 million in the six months to 30 June 2018. But the company reported a 14% increase in passengers using its Premier Grand class luxury travel segment, which the company attributed to enhancements made to its Premier Plus land transfer service and Premier Lounge facilities.
The figures formed part of Shun Tak’s 1H18 results announcement on Friday, which saw group-wide revenue fall 45.9% to just under HK$2 billion and profit by 40.3% to HK$492.8 million – primarily due to fewer sales opportunities in its property segment in Macau and Hong Kong.
In the company’s transportation segment – headed by TurboJET – revenue fell slightly from HK$1.16 billion in the first half of 2017 to HK$1.14 billion, with profit declining by a similar level to HK$186 million.
TurboJET controls ferry services into Macau’s Outer Harbour Ferry Terminal and has two berths at the recently opened Taipa Ferry Terminal.
Shun Tak is also part of the consortium awarded a contract to operate shuttle bus services on the Hong Kong-Zhuhai-Macau Bridge, due to open in the coming months. While the launch of another key transportation option for those travelling to Macau threatens to further reduce the number of passengers using ferries, Shun Tak said it remains confident in TurboJET’s long-term growth.
“With the opening of the Bridge, TurboJET believes that its ferry business will sustain its pivotal role in the integrated transport network and remain resilient with newly generated traffic from increased cross-border exchanges and more diverse market segments in the long run,” it said.
“The company will continue to sharpen its competitive edges by diversifying its offerings in order to respond to the changing market dynamics and build sustainability to its core business.”
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