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Second Chance Properties fiscal Q2 profit falls YOY

Second Chance Properties Ltd. said its normalized net income for the fiscal second quarter ended Feb. 28 came to S$1.4 million, a decline of 20.8% from S$1.7 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 15.3% from 16.3% in the year-earlier period.

Total revenue fell year over year to S$10.1 million from S$10.5 million, and total operating expenses came to S$7.6 million, compared with S$7.6 million in the prior-year period.

Reported net income fell 7.5% from the prior-year period to S$2.5 million, or 0 cents per share, from S$2.7 million, or 0 cents per share.

As of March 30, US$1 was equivalent to S$1.37.