Second Chance Properties expects H1 net profit to ‘decrease significantly’
Add BT as a preferred source
Tan Nai Lun
DeeperDive is a beta AI feature. Refer to full articles for the facts.
MAINBOARD-LISTED company Second Chance Properties expects net profit for its first half ended Feb 29, 2024 to “decrease significantly” on year.
This is compared to net profit of S$9.2 million in the same period a year earlier, the company said in a bourse filing on Tuesday (Mar 19).
The expected decrease is likely due to lower gains on disposal of investment properties in H1. The company disposed of two investment properties this year, while it had seven disposals in 2023.
Second Chance Properties also recorded unrealised foreign exchange gains in H1 2023, but expects it will post unrealised foreign exchange losses in H1 2024.
It said it is still in the process of finalising the results, and expects its unaudited financial statements to be released on or around Mar 27.
Shares of Second Chance Properties closed flat at S$0.23 on Tuesday, before the announcement.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
