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Second Chance's 1Q net profit drop by half

PC Lee
PC Lee12/30/2016 07:39 AM GMT+08  • 2 min read
Second Chance's 1Q net profit drop by half
SINGAPORE (Dec 30): Lower sales from Second Chance Properties’ apparel, properties and securities business cut its 1Q17 net profit by half to $1.26 million from a year ago.
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SINGAPORE (Dec 30): Lower sales from Second Chance Properties’ apparel, properties and securities business cut its 1Q17 net profit by half to $1.26 million from a year ago.

Revenue for the quarter ended Nov fell 9.8% to $7.4 million.

Sales from the apparel business fell 32.2% to $1.2 million due to the closure of 11 shops in Malaysia during the quarter, the weakening Malaysian Ringgit and higher competition.

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