- We believe Centurion (SGX:OU8) remains well positioned to yield better rental rates in Singapore from the dormitory supply shortage situation.
- We turn more positive on Centurion on better purpose-built workers accommodation (PBWA) bed rates in Singapore, with longer-term growth supported by overseas properties. We raise our FY25F-26F earnings by 9% each year.
9M24 revenue is on track, rising 25% y-o-y to S$187m.
- - Read this at SGinvestors.io -
- Drivers of revenue growth included positive rental reversion and strong occupancy rates across its Singapore PBWA, as well as in its PBSA facilities in Australia and the UK.
Starting operations in Hong Kong.
- - Read this at SGinvestors.io -
- Drivers include rising foreign worker demand in the Enhanced Supplementary Labour Scheme (ESLS), which received 66,230 worker import applications, especially for the F&B sector.
Raising FY25F-26F earnings by 9% each on higher bed rates.
- Read more at SGinvestors.io.
Alfie Yeo RHB Securities Research | https://www.rhbgroup.com/ 2025-02-03
Previous report by RHB:
2024-10-14 Centurion - More Positive On Bed Rates In Singapore; Still BUY.
Price targets by 2 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
