Friday, October 19, 2012

Second Chance Properties posts 1.37% rise in net profit to S$30.47m

SINGAPORE: Singapore-listed Second Chance Properties has reported a 1.37 per cent increase in full-year net profit to S$30.47 million for the 14 months ended 31 August 2012.

Revenues have also increased by nearly 32 per cent to S$64.5 million during the same period.

The company has recently shifted its financial year-end from June to August.

If the additional two months were not included, net profits would have slid 10 percent to about S$27 million.

Mr Mohamed Salleh Marican, CEO of Second Chance Properties, said that he still sees this as 'positive' news given the general global outlook.

Looking forward, he said Second Chance will focus on expanding its retail apparel arm First Lady.

The company aims to open nine more outlets in Malaysia, bringing it to a total of 50 shops by the end of the next financial year.

The Directors are recommending a total dividend payout of 3.8 cents a share to shareholders. This include a one-tier dividend of 3.3 cents and a special dividend of half a cent for the additional two months of this financial year.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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