- 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.
Alfie Yeo RHB Securities Research | https://www.rhbgroup.com/ 2024-08-16
Previous report by RHB:
2024-05-20 Centurion - More Positive On Better Occupancy Rates; Still BUY.
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 Dividends & Corporate Actions,
Centurion News Articles
