Centurion - RHB Invest 2024-08-16: Bed Rates & Occupancies Driving Growth; Keep BUY

• We stay positive on Centurion (SGX:OU8) and see growth driven by higher bed capacity, occupancy, and rental rates.
• Centurion is in a sweet spot for purpose-built workers’ accommodation (PBWA) in Singapore, where demand for foreign workers outstrips dormitory bed supply.
• - Read this at SGinvestors.io -

Centurion's 1H24 earnings outperform.

• Centurion's 1H24 revenue came in at S$124m (+27% y-o-y) while core earnings was S$48m (+47% y-o-y), above our expectations as headline earnings of S$118m was boosted by one-off fair value gains.
• - Read this at SGinvestors.io -
• Occupancies of PBSA and PBWA remained strong at 98% and 95%.
• EBIT was S$77m (+35% y-o-y), lifted by better operating leverage from higher rental rates.
• An interim dividend of 1.5 cents was declared, in line with expectations. See Centurion's dividend dates.

Positive outlook.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2026-01-21 Centurion - Completes EPIISOD Macquarie Divestment; BUY.

Previous report by RHB:
2025-12-08 Centurion - Adding More Assets To Its Portfolio; Maintain BUY.

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 Dividend Payout Dates & Corporate Actions,
Centurion News