Centurion - UOB Kay Hian 2023-08-15: Strong Tailwinds Seen In 1H23 Should Persist Well Into 2025

• Centurion’s strong results in 1H23, with revenue up 8% y-o-y to $98m and PATMI up 16% to $38.3m, were driven by strong occupancies and positive rental revisions across both of its PBWA and PBSA segments.
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1H23 in line with expectations.

• Centurion Corp (SGX:OU8) reported strong 1H23 revenue of S$98m (+8% y-o-y) and PATMI of S$38m (+16% y-o-y), as well as a 4.6ppt expansion in gross profit margin to nearly 72%, due to strong occupancies and positive rental revisions across all of its asset classes.
• - Read this at SGinvestors.io -
• An interim dividend of S$0.01 per share was declared (1H22: S$0.005/share), implying 2.3% yield. See Centurion's dividend date.

Higher rentals cushioned the impact of higher interest rates.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-11-20 Centurion - Big Bucks From Beds; Growth Unabated.

Previous report by UOB:
2025-06-24 Centurion - From Dorms To Dollars ~ A Boring Business Delivers Compelling Returns.

Price targets by 3 other brokers at Centurion Target Prices.

Listing of research reports at Centurion Analyst Reports.

Relevant links:
Centurion Share Price History,
Centurion Announcements,
Centurion Dividend Payout Dates & Corporate Actions,
Centurion News