Centurion - Phillip Securities 2024-11-14: Promising Growth Ahead

• 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 an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2025-05-21 Centurion - Robust Asset Pipeline By Year End.

Previous report by Phillip:
2025-03-07 Centurion - Positive In All Segments.

Price targets by 5 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