- We remain upbeat on Centurion Corp (SGX:OU8), as 1Q23’s revenue growth validates improving demand for its assets globally. Occupancy continues to improve in all Centurion’s key markets and it remains on track to meet our forecasts. We expect growth to be driven by both increased bed capacities and better rental rates.
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Centurion's 1Q23 revenue in line.
- See Centurion Corp's announcement dated 10 May 2023. Centurion's 1Q23 revenue grew 5% y-o-y to S$47m, led by:
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- Positive rental revisions in Singapore, Malaysia, the UK and Australia. Singapore and UK occupancies remained strong at 98% and 90%.
Higher capacities and asset enhancement initiatives (AEIs) to drive growth.
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