In addition, there is a realised gain of $5.424 million upon cash acquisition as well as disposal of a few equity instruments held by the group and classified as financial assets, at fair value through other comprehensive income. This gain will be taken directly to equity through retained earnings.
Second Chance Properties is flagging that it will report FY2023 earnings that will be higher "significantly" compared to the preceding FY2022's $14.2 million.
Second Chance Properties attributes the better earnings to higher dividend received from its portfolio of stocks held. Gain on disposal of investment properties helped lift the bottom line too.
