Second Chance Properties’ Q2 net profit rises 20%

Second Chance Properties has reported a 20 per cent on-year rise in net profit to S$3.5 million for the second quarter ended December 31.

This is despite group revenue declining 2 per cent to S$9.5 million in the quarter.

The higher profit came on the back of a 119 per cent decline in other operating expenses over the three-month period.

Looking ahead, Second Chance Properties said in a statement that it expects its gold retail business to perform well despite high gold prices and continued volatility.

It added that its apparel business in Singapore and Malaysia is also expected to continue its good performance.

The company also expects its rental income to remain stable and interest rates to stay low for the foreseeable future.

Source : Channel NewsAsia – 3 Feb 2012

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