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Second Chance Properties Ltd


Received this annual report in Dec. Readers will know I bought this counter for my SRS portfolio a while back.


The company will pay a second and final dividend of 1.7 cents for the FY ending 31 Aug 2013. 


The revenue and profit figures are not entirely comparable as FY2012 consist of 14 months. 

Fair value properties accounting caused the profit to go up by $42.9m but overall,
this is a simple and well run company that is paying out dividends on a regular basis. 

Anyway, no cause of concern at this juncture. Will continue to hold on to this counter but nothing exciting as well. Zzz..

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