- Centurion’s 1Q23 business update was a solid one with revenue up 5% y-o-y to S$47m making up 25% of our full-year forecast and thus in line with expectation.
- The key PBWA segment, which makes up three-quarters of its revenue, saw 5% y-o-y growth in its top-line while its PBSA segment was similarly robust, up 7% y-o-y.
- - Read this at SGinvestors.io -
Slowly but surely grinding higher.
- Centurion Corp (SGX:OU8) reported a positive 1Q23 business update with its key purpose built workers’ accomodation (PBWA, 75% of revenue) segment witnessing a 5% y-o-y revenue increase due to:
- - Read this at SGinvestors.io -
- a significant increase in occupancy rate in Malaysia, up from 68% in 1Q22 to 93% in 1Q23.
- In addition, Centurion stated that rental reversions were healthy and with its ability to pass on inflation and higher costs, it would appear that profit margins have easily been maintained, in our view.
Student accommodation taking slightly longer to recover after COVID-19.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-05-19
Read also UOB's most recent report:
2024-03-06 Centurion - Strong 2023 Results Across The Board With Bright Outlook Ahead.
Previous report by UOB:
2023-11-17 Centurion - Outlook Undimmed – Strong Performance In 3Q23 To Extend Into 2024.
Price targets by 4 other brokers at Centurion Target Prices.
Listing of research reports at Centurion Analyst Reports.
Relevant links:
Centurion Share Price History,
Centurion Announcements,
Centurion Dividends & Corporate Actions,
Centurion News Articles
