- Centurion's 9M24 results exceeded expectations. Revenue was 78% of our FY24e forecasts. 9M24 revenue from Purpose-Built Workers Accommodation (PBWA) in Singapore was 79% of our FY24e forecasts due to strong occupancy and rental rate revisions. Occupancy is currently 99%.
- - Read this at SGinvestors.io -
- We raised our FY24e revenue and PATMI forecast for Centurion by 3% and 9%, respectively. Maintain ACCUMULATE with a higher Centurion's target price of S$1.02..
The Positives
Portfolio growth pipeline.
- - Read this at SGinvestors.io -
- 400 units have been secured under master lease agreements in Xiamen, China, under the new Build-to-Rent (BTR) segment and are expected to be operational from December 2024.
Higher interest cover ratio.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Yik Ban Chong Phillip Securities Research | http://www.poems.com.sg/ 2024-11-14
Read also Phillip's most recent report:
2024-12-02 Centurion - New Dormitory As Growth Driver.
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
