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Second Chance Properties guides for lower profit in FY19

MAINBOARD-LISTED Second Chance Properties said on Thursday that it expects to report a lower profit for the financial year ended Aug 31, compared to the last financial year.

This is primarily due to unrealised loss on revaluation of properties recorded in the 2019 financial year, compared to unrealised gain on revaluation of properties reported in the year before.

There was also a loss on sale of investment property recorded in FY2019 versus a profit on sale of investment property in FY2018.

The company will announce its unaudited financial results for FY2019 on or before Oct 24.

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