Second Chance Properties expects H1 net profit to ‘decrease significantly’
MAINBOARD-LISTED company Second Chance Properties : 528 0% 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.
A NEWSLETTER FOR YOU
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Axiata, Sinar Mas seek permission for Indonesia telco merger, minister says
New York Times beats profit estimates on bundle strength
US dollar gains ground; subdued yen prompts Japan warning
Prime US Reit distributable income for Q1 2024 down 19.5% to US$11.9 million
DBS hires chief of Ping An’s tech group to fix outage issues
Uber forecasts gross bookings for second quarter below expectations